CHEYENNE, Wyo., Jan. 30, 2007 (PRIME NEWSWIRE) -- Amelot Holdings, Inc. (Pink Sheets:AMHD) is pleased to announce that its wholly owned subsidiary, Amelot Commodities Group (ACG) has entered into contract negotiations with A2O2 Managing Partners, Inc. of Pawtucket, Rhode Island for a Bio-Diesel processing arrangement. A2O2 is currently building a 10 million gallon per year production facility with plans to go online in June 2007. ACG will provide A2O2 with the raw materials, which will then be processed at a fixed price per gallon. ACG will own the finished products and offer it for sale to its client base.
"This relationship provides us with the ability to expand quickly without expending funds for capital equipment," stated Allen Giles, President of Amelot Holdings, Inc. "We will now be able to service the northeast from multiple locations reducing the transportation costs for our clients."
The National Bio-Diesel Board states that 66% of all of the heating oil in the U.S. is consumed in the northeast. If just 5% of this fuel was blended with Bio-Diesel, it would require over 350 million gallons of Bio-Diesel; that is equal to all of the Bio-Diesel produced in the U.S. during 2005.
Amelot Holdings, Inc. recently announced that the Company is looking to capitalize on President Bush's demands for increased production of renewable fuels. President Bush proposed in his State of the Union address to set the amount of alternative fuels that must be blended into the fuel supply at 35 billion gallons by 2017, up from 7.5 billion gallons in 2012. He also stated that he wants to expand the standard to include not just Bio-Diesel but a wide range of oil alternatives, such as ethanol, methanol, butanol and hydrogen.
About Amelot Holdings, Inc.:
Amelot Holdings, Inc. (http://www.amelotholdings.com), a publicly traded company, is a diversified holding company that has identified a projected $20 billion opportunity to manufacture renewable fuels to supply the growing demand and to reduce the dependency and environmental impact of fossil fuels. Amelot Alternative Energy Group, a wholly owned subsidiary of Amelot Holdings, Inc., is focused on the production of these renewable fuels, with an emphasis on Bio-Diesel. Amelot Holdings, Inc. also owns the following alternate energy and renewable fuel companies: Amelot Commodities Group, and Amelot Alternative Energy, Inc.
The Amelot Holdings, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2149
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.
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