Evolution Fuels Executes Letter of Intent to Acquire Fuel Stations in Alabama and...
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Evolution Fuels Executes Letter of Intent to Acquire Fuel Stations in Alabama
and Mississippi
DALLAS, Oct. 22, 2009 (GLOBE NEWSWIRE) -- Evolution Fuels, Inc. (Pink
Sheets:EVFL) (the "Company") today announced that it has executed a letter of
intent to acquire two existing and operational fuel stations, one located in
southern Alabama and the other in central Mississippi. The Company intends to
brand the stations as "Evolution Fuels."
One of the stations is located in an affluent area of the town of Fairhope,
Alabama, which is approximately eighteen miles southeast of Mobile, Alabama. The
station currently offers E10 (10% ethanol/90% gasoline) and E85 (85% ethanol/15%
gasoline) and B20 biodiesel. The second station is located in Newton,
Mississippi and currently offers E10, E85, and B20 biodiesel.
Both stations feature fuel blending at the dispenser, which conforms to the
Company's model of providing renewable fuels at the retail level. The Company
plans to apply its "Evolution Fuels" branding to the stations and add sufficient
equipment to provide an additional E20 product at the pumps.
The Company expects to sign the definitive purchase agreement pursuant to the
letter of intent by November 30, 2009.
About Evolution Fuels, Inc.
The Company endeavors to market renewable transportation fuels at retail fuel
stations that will provide blends of ethanol ranging 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,"
"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.
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CONTACT: Evolution Fuels, Inc.
Media & Investor Relations
Randy Hepler
866-765-4940
investors@evolution-fuels.com
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