OSTERVILLE, Mass., June 11, 2007 (PRIME NEWSWIRE) -- Amelot Holdings, Inc. (Pink Sheets:AMHD), has formally filed its intention to respond for a Renewable Energy Research and Development Grant as authorized in Section 932 of the Energy Policy Act of 2005. This grant opportunity provides up to $25 million in funding for a demonstration of integrated biorefinery operations for producing biofuels and other chemical materials products.
"For the last few months, we've been working on a plan for the development, acquisition and integration of technology and intellectual property needed for an integrated biorefinery," stated Aziz Hirji, Founder and C.E.O. of Amelot Holdings, Inc. "Having ownership of feedstocks and producing multiple revenue streams is paramount to the long term sustainability for a biorefinery, especially here in the Northeast where there is very little access to traditionally used food based commodity feedstocks such as soy oil."
Amelot plans to develop a proposal that will build and demonstrate a biorefinery based on the production and extraction of algae oil to be processed into biodiesel. The algae residue will be processed to produce methanol, a feedstock required in the biodiesel process, as well as the base feedstock for many plastic materials. The glycerin, a byproduct of the biodiesel process, will be modified into a feedstock to provide co-generation, power and heat required for the total operation. The facility will be designed to produce zero emissions and be eligible for credits for both CO2 reduction and green electricity production.
"We are particularly excited to solidify our operations in Massachusetts, a state that is supporting the same research goals as our company," said Allen Giles, president of Amelot Holdings. "We look forward to increasing our capacity for research and we will be announcing other business developments in the near future."
Turning Mill Consultants, Inc. of Sandwich, MA, will be managing the construction of the planned facility and providing technology integration engineering and project management. Turning Mill Consultants, Inc. (http://www.turningmillconsultants.com/), based in Sandwich, MA, has a long history of providing engineering procurement contracting services to companies such as Bechtel, General Dynamics, AT&T and Verizon. They are licensed to provide services in 32 states across the U.S.
About 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.
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About Biodiesel:
Biodiesel is biodegradable, nontoxic, and essentially free of sulfur and aromatics. It is less toxic than table salt and biodegrades as fast as sugar. Biodiesel reduces emissions of carbon monoxide (CO) by approximately 50% and carbon dioxide (CO2) by 78%. Biodiesel reduces the emission of particulates, small particles of solid combustion products, by as much as 65%. This reduces cancer risks by up to 94% according to testing sponsored by the Department of Energy.
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.