DALLAS, May 4, 2009 (GLOBE NEWSWIRE) -- Evolution Fuels, Inc. (Pink Sheets:EBOF) (the "Company") today announced that it has hired Mr. Timothy G. Harrington to serve as the Company's Chief Operating Officer.
Mr. Harrington has over 20 years experience in the fuels distribution industry. He began his career in the late 1980s by building Able Oil Co. from a one truck, one employee operation to a company with over 60 delivery and service vehicles and over 120 employees as a major market force doing business in excess of $50MM.
During the mid-1990s Mr. Harrington created PriceEnergy.com from concept to design to implementation, establishing a fully automated, fully integrated internet-based marketplace for the sale of home heating oil and energy related products. He developed a network of dealers to distribute PriceEnergy heating oil to customers throughout the Northeast, and developed an exclusive relationship with BJ's Wholesale Club to deliver fuel to their club members from Maine to Florida. Mr. Harrington started Able Oil Melbourne, Inc. on the east coast of Florida, which offered a unique service of providing time sensitive delivery of diesel fuel to fishing fleets and marine based customers. In 1996 he created Able Propane Co., a full service liquefied petroleum gas company which focused on an existing heating oil customer base that used both oil and propane in their homes and businesses, and brought together the natural marketing synergy of the two industries. He also began A&O Environmental, a full service environmental organization to do fuel tank testing and removal. A&O provided support to Able Oil by providing quick response to customer environmental emergencies while also marketing its service to other oil companies.
In 1997 he established Able Energy, Inc. to act as the holding company for Able Oil, Able Propane, A&O Environmental, Able Melbourne, Able Energy, NY, PriceEnergy.com and Able Montgomery, which collectively represented $75MM sales revenue and in 1999 successfully launched an IPO taking Able Energy and its affiliates public on the NASDAQ Stock Market.
About Evolution Fuels, Inc.
The Company endeavors to develop retail renewable fuel stations and truck stops modeled after the Willie's Place Truck Stop in Carl's Corner, TX, and supplying biodiesel to these retail locations from its biodiesel production facility located in Durant, Oklahoma. The Company's Web site is currently www.evolution-fuels.com.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.