DALLAS, Sept. 23, 2009 (GLOBE NEWSWIRE) -- Evolution Fuels, Inc. (Pink Sheets:EVFL) (the "Company") today announced that it has identified and is in the process of negotiating five potential locations in the Dallas metropolis area. The Company is determining which will serve as the first "marquee" location for the Company's planned rollout of its branded stations.
Per the Company's business plan, the stations would offer renewable fuel blends at the pump. The fuel dispensers, to be provided by Dresser Wayne, are uniquely designed to blend petroleum fuels with renewable fuels from the underground storage tanks within the dispenser as the fuel is delivered into the vehicle. The planned product offering includes E10 (10% ethanol blended with 90% petroleum gasoline), E20, E30, and E85, as well as B20 (20% biodiesel blended with 80% petroleum diesel). Although the octane content actually increases going from E10 to E30, the Company foresees the pricing to be $0.05 to $0.10 per gallon lower for the E20 product compared to E10, and likewise the same discount for the E30 product compared to E20.
The Company plans to uniquely image the stations and offer specialty foods, beverages, and other products in order to help create a recognizable brand as it rolls out more stations according to its business plan.
The E20 to E85 ethanol blends are intended for use in flex-fuel vehicles, although recent studies have shown that many legacy vehicles on the road today may use E20 blends without incurring damage to the engines or fuel systems. Research and testing has been conducted by groups in collaboration with the U.S. Department of Energy (DOE) that show blends of up to 20% ethanol can be used in most legacy automobiles. Specifically, in the summer 2007 the DOE initiated a test program to evaluate the potential impacts of intermediate ethanol blends on legacy vehicles and other engines. Results of those tests can be found in the National Renewable Energy Laboratory's report (Effects of Intermediate Ethanol Blends on Legacy Vehicles and Small Non-Road Engines) published in February 2000: http://feerc.ornl.gov/publications/Int_blends_Rpt1_Updated.pdf
In December 2007 the American Coalition for Ethanol reported that research findings "show that mid-range ethanol blends-fuel mixtures with more ethanol than E10 but less than E85 -- can in some cases provide better fuel economy than regular unleaded gasoline, even in standard, non-flex-fuel vehicles." The report may be found here: http://www.ethanol.org/pdf/contentmgmt/ACE_Optimal_Ethanol_Blend_Level_Study_final_12507.pdf
The Company believes that a 20% to 30% blend of ethanol is something that this country can achieve and will cause a meaningful decline in the country's reliance on foreign oil.
About Evolution Fuels, Inc.
The Company endeavors to market renewable transportation fuels at retail fuel stations that will provide blends of ethanol from 10% to 85% (E10 to E85), and biodiesel blends from 5% to 20% (B5 to B20). The Company's plan calls for the development of a chain of renewable fuel stations that extend from Texas to Mississippi that will be a combination of "Evolution Fuels"-branded fuel stations/convenience stores and western-motif truck stops modeled after the Willie's Place Truck Stop in Carl's Corner, TX. The Company's Web site is 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," "foresees," "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.