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AlgoDyne Ethanol Announces Completion of Acquisition of 800 Acres of Agricultural Land in Saskatchewan to Grow Crops for Ethanol Production

Posted on: Thursday, 12 April 2007, 18:00 CDT

AlgoDyne Ethanol Energy Inc. ('AlgoDyne' or the 'Company') (OTCBB:ADYN) is pleased to announce that it has completed the acquisition of 800 acres of agricultural land in Saskatchewan which will be used to grow crops to supply the ever-increasing demand for ethanol. AlgoDyne has also signed letters of intent to acquire a further 3,000 acres as the Company firmly believes that agricultural land will continue to increase in value and demand as consumers and corporations go green and switch to alternative fuel sources. As part of the Kyoto Accord Agreement, Canada has agreed to cut greenhouse gas emissions by 6% by 2012. In order to accomplish this, Canada will have to increase its use of ethanol and biodiesel. According to Lionel LaBelle of the Saskatchewan Ethanol Development Council, if Canada were to start blending 10% ethanol into all gasoline sold domestically, it would amount to more than 60 billion liters a year. To make 60+ billion liters using existing technology would take about 6 billion bushels of wheat or canola, producing a yield of about 10 liters of fuel per bushel. Therefore, at the national average yield of 30 bushels per acre, producing 6 billion liters of fuel would take approximately 20 million acres. Saskatchewan has about 50% of the national total of farmland, so if it were to produce half of this ethanol total, it would take up about 30% of Saskatchewan's average annual seeded acres. According to Statistics Canada, there are a total of about 90 million acres of farmland under cultivation in all of Canada -- hence, to move to 50% ethanol or biodiesel as fuel using existing technology would take more farmland than Canada currently has under cultivation under existing assumptions.

About AlgoDyne Ethanol

AlgoDyne's proprietary mico-algae-based (phytoplankton) technology provides a powerful means to produce clean, renewable energy from the continual harvest of bio-mass from Photo-Bioreactors. The end result is the production of ethanol, methanol, biodiesel, electricity, coal and animal feed -- all in a carbon dioxide neutral way.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release and AlgoDyne assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although AlgoDyne believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in AlgoDyne's periodic reports filed from time to time with the Securities and Exchange Commission and available at www.sec.gov.

Source: Business Wire

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