Evolution Fuels Executes Letter of Intent for Second Fuel Station in Dallas, TX

Wed Nov 4, 2009 2:26pm EST
 
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DALLAS, Nov. 4, 2009 (GLOBE NEWSWIRE) -- Evolution Fuels, Inc. (Pink
Sheets:EVFL) (the "Company") today announced that it has executed a letter of
intent to enter into a lease agreement for a second fuel station to be located
in Dallas, Texas under the brand, "Evolution Fuels". The station will be located
at the corner of Knox St. and Travis St. in the heart of the Dallas metropolis,
immediately adjacent to the upscale Park Cities neighborhood and the popular
Katy Trail, and will serve as another "marquee" location for the Company's
planned rollout of its branded stations.

This location is extremely beneficial to the Company in that it is located in a
highly visible upscale restaurant and shopping corridor that experiences high
traffic counts. The adjacent Park Cities neighborhood has a large population of
flex fuel vehicle owners who currently have no nearby fuel station that offers
higher blends of ethanol fuel. It was formerly a high-performing 7-Eleven
branded convenience store/fuel station, and has retail neighbors that include an
Apple Store and a Starbucks. Once the definitive leases for both stations are
finalized and construction is completed, the locations will be located within
approximately two miles of each other.

Per the Company's business plan, the stations will 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 station 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.

Management anticipates that the definitive lease pursuant to the non-binding
letter of intent will be executed within forty-five days and that construction
will take ninety to one hundred twenty days to complete.

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,"
"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.

-0-
CONTACT:  Evolution Fuels, Inc.
          Randy Hepler, Media & Investor Relations
          866-765-4940
          investors@evolution-fuels.com

 

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