US Farms, Inc. Announces Feasibility Study to Build Ethanol Plant in California
Posted on: Thursday, 2 November 2006, 06:00 CST
US Farms, Inc. (OTCBB: USFI) today announced through its wholly owned subsidiary, Imperial Ethanol, Inc., it has retained one of the leading Ethanol Feasibility Advisory Firms in the United States, BBI International, to spearhead a feasibility study for its planned Ethanol Plant located in Imperial Valley, Ca.
Yan K. Skwara, President of US Farms, Inc., stated, "We are very pleased to retain BBI International as our Feasibility Consultants for our planned Ethanol Facility in the state of California. This project will require significant capital investment over the next two years. We are confident that upon completion of this feasibility study, BBI International will find that the plan US Farms, Inc. has formulated to enter the Ethanol market, is overall sound and timely. This study, coupled with sufficient funding, will allow Imperial Ethanol, Inc. to break ground on a cutting-edge, strategically located production plant in Imperial Valley, Ca. during the second half of 2007. When completed, this new facility will have the capacity to produce 35-50 million gallons initially with capabilities of expanding to double the production of 70-100 million gallons per year.
"BBI will be targeting at utilizing sugar cane and corn as feed stocks for Ethanol in this study. Corn was chosen since the distiller's grain byproduct produced from the process is consumed by the beef and dairy industry. This would be an asset to the project due to the amount of cattle currently in the Imperial Valley. The demand for Ethanol in California alone will outpace our production capabilities, leaving enormous potential for future growth."
"BBI International looks forward to working with US Farms, Inc. on the feasibility study," stated Mark Yancey, Vice President of BBI's Project Development Team. "This project has the potential to bring high paying jobs and economic development to the Imperial Valley, while serving the growing Ethanol market in Southern California."
About US Farms, Inc.
US Farms, Inc. is a diversified agriculture company. The company has commenced the production and distribution of horticultural products through a number of subsidiaries. The horticultural products are sold through supermarkets, home centers, retail merchandisers, garden centers, re-wholesalers, and landscapers throughout the United States and Canada. Through internal growth and strategic acquisitions the company is expanding its market share in its nursery and specialty produce businesses. Currently the company has subsidiaries which provide a full range of products including Aloe Vera, Cactus, Succulents, Jade, Rare and Exotic Palm Trees and Cycads along with produce products that include Aloe Vera, Asparagus, Tomatoes and Wheatgrass. In 2007 the company plans to add over 100 specialty niche produce items to it offerings.
For more information on US Farms, Inc., please visit http://www.usfarmsinc.com. US Farms, Inc. is publicly traded on the over-the-counter market under the ticker symbol USFI.
About Imperial Ethanol, Inc.
Imperial Ethanol intends to establish a leading ethanol processing facility located in Imperial County, California. The company plans to construct a 50 million gallon per year ethanol facility with capabilities of expanding to double the production or 100 million gallons a year. The company plans to use sugar cane and corn as the main stock for the ethanol.
BBI International Project Development
Objective, experienced, and independent, BBI International is committed to providing the most thorough feasibility studies and project development in the business. Our team of engineers and market specialists have an intimate understanding of bioenergy and ag processing research and analysis, through decades of hands on experience. Ethanol and biodiesel projects are at the core of our workload and expertise. Our clients include future producers, existing producers, state and federal agencies, and independent research groups. BBI consulting services include:
-- Feasibility Studies -- Market Analyses -- Site & Resource Assessments -- Economic Impact Studies -- Business Plans -- Industry Benchmarking -- Industry Surveys
Our clients use these detailed evaluations to draw assertions specific to each new bio-energy project. Critical factors include: transportation, market access, feedstock availability and practicality, water and energy supplies, as well as political and legal issues. When complete, this information is often used to establish business strategies, raise community interest, rally legislative support and lead successful equity drives toward construction and startup.
Notably, our engineers do not design, build or manage ethanol plants; our job typically ends with the groundbreaking ceremony, so our studies -- as well as our professional interests -- adhere to the utmost degree of objectivity. We have virtually no vested interest in any one project. Therefore, financial institutions often request our services.
For more information call BBI, Rafael Nieves at 303-526-5655 or go to www.bbibiofuels.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, our inability to acquire and or build an ethanol production facility, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in US Farms, Inc.'s filings with the Securities and Exchange Commission. These risks could cause US Farms, Inc.'s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, US Farms, Inc.
Contact: US Farms, Inc. Yan K. Skwara President Tel: 858-488-7775 Fax: 858-488-2828 Stock Services LLC Alan Klitenic 818-334-4469
SOURCE: US Farms, Inc.
Source: MARKET WIRE
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