Evolution Fuels Announces Integrated Truck Stop and Biodiesel Plan
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DALLAS, Oct. 26, 2009 (GLOBE NEWSWIRE) -- Evolution Fuels, Inc. (Pink
Sheets:EVFL) (the "Company") today announced a strategy to integrate its
biodiesel production plan with a plan to establish five of its own branded truck
stops. The Company's management believes that maximum profitability of a
biodiesel production facility may only be achieved by creating direct demand for
the product through retail sales at the pump.
The Company's ownership in the Willie's Place at Carl's Corner Truck Stop
located near Hillsboro, TX has provided valuable experience and insight into how
and where to create similar truck stop operations. In May of this year, the
Company announced the formation of its subsidiary, "Legends Travel Centers LLC,"
to hold its ownership in truck stop projects, and is actively pursuing existing
truck stop operations in Texas and Oklahoma with the concept of establishing
five "Legends Travel Centers"-branded facilities.
The Company has developed a plan to allow its facility located in Durant,
Oklahoma to process relatively low-cost animal fats into biodiesel. The company
is in the process of negotiating a contract for the supply of these fats, which
exist in close proximity to Durant.
The Company intends to produce sufficient biodiesel to supply the five truck
stops for the biodiesel portion of the B20 (20% biodiesel/80% petroleum diesel)
planned for sale at the high-speed commercial truck fuel dispensers. The Company
has retained Informa Economics, Inc. to assist with the financial pro forma
modeling of the entire operation, and anticipates aggressive margins as a result
of the ability to utilize low-cost feedstock and the direct sales through the
retail dispensers, thereby retaining all of the margins throughout the fuel
supply chain.
Additionally, the Company intends to partner with a major manufacturer of fuel
dispensers to develop new technology for the blending of biodiesel and petroleum
diesel through the high-speed dispensers that truckers are acquainted with using
at the fueling lanes at typical truck stops.
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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