CHEYENNE, Wyo., Sept. 9, 2008 (GLOBE NEWSWIRE) -- Amelot Holdings, Inc. (Pink Sheets:AMHD) is pleased to announce that Amelot Oil Barbados Ltd. will be completing its trial runs of biodiesel production in the next week and management is optimistic for production to be near full capacity shortly.
The biodiesel refining plant, located at The Future Centre on the island of Barbados, is in the process of finishing up production trial runs, and will soon be ready to begin operating near full capacity. Amelot Oil started up operations last month with trial runs producing initially 200 gallons of Biodiesel and is expected to ramp up to 6,000 gallons of biodiesel a month over the next quarter. The current price of Diesel set by the Government of Barbados is BBD $ 2.57 per litre or approximately USD $ 4.86 per gallon. All biodiesel fuel that has been produced thus far has been sold to local merchants and valued customers. Collection of oil will continue this week with the combined efforts of the St. Thomas Parish ambassadors program and the numerous hotels, restaurants, and manufacturing companies across the island with which relationships have already been established.
As production test runs continue, management has been hard at work designing, finalizing, and fine tuning the oil collection program which will be implemented throughout the island. The proposed program will include a detailed scheduling procedure to optimize the location and use of cooking oil collected at each participating supplier. It will also include a mapping system of collection routes, a monitoring system which will record collection levels, and spatial analysis reports. The program will also include the input and inclusion of cooperating initiatives such as the St. Thomas Parish Ambassadors Program.
In further company news, major efforts are underway to establish and expand the company's network of suppliers and buyers. Last week, Mr. Gregory Hawkins and Mr. Handel Callender met with several high level business and government representatives. Aziz Hirji, President and CEO of Amelot Holdings, Inc., flew down to the Island to participate in these meetings along side of the Barbados management team. The meetings resulted in several verbal agreements, and Amelot will be working to solidify those contracts in the coming weeks. Included in these verbal agreements is a major restaurant chain.
"My trip down to Barbados was very successful," stated Aziz Hirji, President of Amelot Holdings, Inc. "I am extremely pleased with the number of verbal agreements that were made, and I am very excited by the prospect of securing written contracts for oil collection and fuel distribution within the next few weeks. It has become clear to me that the demand for biodiesel is greater than our current supply. This high demand will drive our efforts even further in order to increase and expand collections and sales."
About Amelot Holdings, Inc.:
Amelot Holdings, Inc. (http://www.amelotholdings.com), a publicly traded company, is a diversified holding company that has identified Bio-diesel as a $20 billion emerging market. Amelot plans to have a significant market share in growing low cost feedstocks to supply the growing demand for biodiesel, to reduce energy dependency of fossil fuels, to help reduce the US dependency on foreign oil supplies and reduce the impact of energy on our environment.
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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.