NEW YORK, Feb. 23, 2010 (GLOBE NEWSWIRE) -- Novo Energies Corporation (OTCBB:NVNC) ("Novo or the "Company"), an alternative energy company, announced today that it has retained E3 Consulting, LLC. ("E3"), a leading business and technical advisor to the energy industry.
E3 will assist Novo with evaluation of its technological processes, permitting, site assessments, construction plans and schedules, and securing of off-take agreements for the recovered oil, carbon black and steel projected to be produced by Novo at its proposed waste tire to energy plants. The Company's current plan is to build its first facility in North America and is currently evaluating sites in Colorado and Quebec as well as other locations.
"We selected E3 based on their expertise, experience and reputation as one of the most respected advisors to the worldwide energy industry. We are at a critical juncture and welcome having E3 on board to advise us on matters such as technology, permitting, final site selection and construction planning. E3 will also assist the Company in finalizing off-take contracts based upon their extensive relationships with potential purchasers of our recovered oil and carbon black," said Antonio Treminio, Chief Executive Officer of Novo.
About E3 Consulting, LLC.
E3 Consulting, LLC. is a leading technical and consulting firm for the worldwide energy industry, with headquarters in Denver, Colorado and offices in New York, Montana and Texas. E3 provides reviews of energy, industrial and public infrastructure projects for capital providers and project developers and owners. E3's projects cut across all segments of the energy industry ranging from the renewable energy sector to more traditional fossil-fueled projects. Most of the projects that E3 reviews are funded through non‐recourse debt, making an independent engineering review a crucial component in the financing process. Over the past decade, E3 has served as an independent engineer on more than 500 projects , seeking financing in the forms of lease, equity placement, debt and bond offerings. More information may be obtained by viewing E3's website at http://www.e3co.com/.
Novo Energies Corporation
About Novo Energies Corporation: Novo is a public company trading on the Over the Counter Bulletin Board Market ("OTCBB") under the symbol NVNC. Novo's mission is to continue expanding within the renewable energy sector by developing and implementing renewable energy solutions while maintaining its commitment to conserve energy, natural resources and help reduce pollutants and unwanted wastes. Based upon a novel technology, Novo's wholly owned subsidiary WTL Renewable Energy, Inc. seeks to plan, build, own and operate renewable energy plants that will transform residual plastics and tires to valuable liquid fuels such as oil, diesel, gasoline and fuel additives.
The Novo Energies logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7108
Forward-Looking Statements: Except for statements of historical fact, this news release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on Novo's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to fund operations and other factors over which Novo has little or no control. Such forward-looking statements are made only as of the date of this release, and Novo assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in Novo's Form 10-K for its fiscal year ended March 31, 2009, and other documents filed from time to time by Novo with the Securities and Exchange Commission.