Clean Energy Pathways Signs Letter of Intent to Supply Bio-Diesel to Dorly Petroleum
June 28 2011 - 10:19AM
Clean Energy Pathways, Inc. (Pink Sheets:CPWY), an alternative and
renewable energy solutions company, has signed a letter of intent
to provide 40,000 barrels (1,680,000 gal) of ASTM-grade bio-diesel
to Dorly Petroleum, pending final price negotiation. Dorly
Petroleum, headquartered in Calverton, MD, is a fuel distributor
serving domestic and foreign customers with a variety of energy
sources that include bio-diesel and refined petroleum products.
Clean Energy Pathways will supply B-99.9 bio-diesel which will be
combined with petroleum fuels by Dorly to yield the required final
blends.
"Dorly is one of several fuel distributors we have diligently
cultivated as potential long-term customers for large monthly
supplies of ASTM-grade bio-diesel," said Greg Clemons, President
and CEO of Clean Energy Pathways. "The signed letter of intent is a
positive indicator as we advance through the final price
negotiation phase. We look forward to serving Dorly and working
closely to ensure success."
Clean Energy Pathways' announced merger with Atlas Capital
Holdings is proceeding on schedule, Clemons added. Depending on the
timing of the SEC's review of documents, the two companies
anticipate completion of the merger sometime in August.
About Clean Energy Pathways
Clean Energy Pathways, Inc. is a company focused on multiple
solutions to aid businesses and government facilities in attaining
energy independence, reduced costs, and a cleaner environment.
These pathways to energy independence include bio-fuels, solar
systems, building energy management systems and other technologies,
as well as financing of, and gain sharing in, the improvements. For
more see cleanenergypathways.com
The Clean Energy Pathways, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=9449
About Dorly Petroleum
Dorly Petroleum is an IRS 637 licensed fuel distributor that
provides diverse energy sources, which include bio-diesel and
refined petroleum products. Based in Calverton, MD, the company
provides fuel to both domestic and foreign customers.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such statements are subject to risks and
uncertainties that could cause future results to differ materially
from the forward-looking statements. You should consider these
factors in evaluating the statements herein, and not rely on such
statements. The forward-looking statements in this release are made
as of the date hereof and Clean Energy Pathways, Inc. and Atlas
Capital Holdings, Inc. undertake no obligation to update such
statements.
CONTACT: Harrison Parrish, 866-492-5325
investor@cepathways.com
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