Evolution Resources, Inc. (OTCBB: EVLN) (the “Company”), an
advanced biofuels production company focused on the production of
cellulosic ethanol using the latest in modern processes and
technologies, today provides investors with details on its core
projects:
Evolution Resources is currently focusing its efforts of certain
proposed projects that if successfully implemented and completed,
will leverage existing assets and infrastructure to significantly
shorten the time frame required to establish commercial scale
cellulosic ethanol and biodiesel production facilities and
“repurpose” certain industrial operations to provide the key
biomass components.
The projects that the Company is pursuing include the
following:
1) Development of a 350,000 to 4 million gallon per year (mmgy)
cellulosic ethanol production facility located in an area with a
large availability of straw biomass in the Moses Lake, Washington
area. The project is attractive as the initial cellulosic facility
due to the fact that the site for a proposed facility has existing
ethanol components and equipment, initial design work for the
project has already been completed, and certain permits for ethanol
production formerly existed at the site. These elements, combined
with the goal of engineering and constructing a relatively small
commercial scale production facility, provide the potential to
complete the project and bring it online in as little as seven
months from initial construction.
2) Development of a 60 mmgy cellulosic ethanol production
facility to be located adjacent to an existing wood pulping
facility. The project will leverage the existing pulping assets for
the handling of large quantities of wood biomass and the capability
to produce pulp cellulose, and will utilize a proprietary
technology to convert the cellulose to fermentable sugars. The
Company is currently analyzing opportunities and is in discussions
for the “repurposing” of certain pulp mills for the production of
cellulosic ethanol.
Although the Company is in negotiations with the owners of
various pulp mills relating to this project, it has not yet
executed any definitive agreements to acquire, or secure access to,
the land and facilities involved that would be necessary to develop
this project.
Evolution has completed the acquisition of Liquafaction
Corporation that will allow the Company to pursue the 350,000 to 4
million gallon per year cellulosic ethanol project described above,
which is located in Moses Lake, WA, an area that contains a high
concentration of wheat straw. This project will be relatively small
in scope and will make use of existing assets at the location that
were at one time used for producing ethanol from corn and barley
feedstocks. Accordingly, Evolution envisions this project as an
ideal pilot project for future commercial scale cellulosic ethanol
projects in that the time to engineer and construct the site will
be relatively short so that the cellulosic technologies may be
vetted on the order of months, rather than years.
Evolution has applied for a $1 million loan from the state of
Washington through its Energy Efficiency and Renewable Energy Loan
and Grant Program. Evolution has subsequently learned that that it
has been selected as a recipient of the loan, and is now in the
process of finalizing the loan contract with the Washington State
Economic Development office.
Evolution Resources is aggressively pursing projects that meet
the criteria of the 60 mmgy cellulosic ethanol production facility,
which is described in the second topic above. The current areas of
focus for this project are in the Southeast, particularly the
Mid-South Mississippi Delta region, which is rich in biomass, with
a significant opportunity for economic development and growth built
around a new biomass production and processing industry, as well as
the Pacific Northwest, similarly rich in biomass with opportunities
for economic development and growth.
The comprehensive transportation and logistics infrastructure of
the Delta Region is a significant strength for development of a
robust bioprocessing project. The rivers, ports, roads and rail
systems are sufficient to support a sizable facility. In addition,
the refined product pipelines give the area a strategic advantage
for the potential blending and export of liquid biofuels.
Abundant resources within the Mid-South Mississippi Delta make
cellulosic biomass processing a key technology for the region. In
fact, if the region increased production of dedicated energy crops
on 10% of current cropland, it would equate to over 59.0 million
tons of cellulosic biomass per year and make the region a net
exporter of liquid transportation fuel. Due to these rich biomass
resources, the Mid-South Delta’s local and state governments are
actively positioning themselves to attract bioprocessing technology
investments in the region.
“The flexibility of plant biomass, combined with significant
advances in modern cellulosic technology, is driving us toward the
use of ethanol as a cost effective additive and possible
replacement to petroleum based energy solutions,” said Dennis
McLaughlin, CEO of Evolution Resources. “Our focus on the Northwest
and Southeast for our project locations is based on their
significant biomass availability, local governmental and industrial
support, as well as strong economic synergies we can realize with
the regions. As further details of our projects unfold, we look
forward to informing our loyal shareholder base.”
For additional details on the biomass capabilities of the
Mid-South Mississippi Delta region, please refer to the report:
“Regional Strategy for Biobased Products in the Mississippi Delta”
available using the following link: http://www.agbioworks.org.
About Evolution Resources, Inc.
Evolution Resources, Inc. (OTCBB: EVLN) is a renewable energy
company focused on the production of cellulosic ethanol
transportation fuels. Presently, the company is pursuing certain
proposed projects that will leverage existing distressed assets and
infrastructure in the Southeast and Northwest. The management team
shares key members with Evolution Fuels (Pink Sheets: EVFN), which
recently announced a dividend of two million shares of EVLN stock
to its current shareholders as of the record date of January 8,
2010. For additional information on Evolution Resources, please
visit its corporate website: www.evoresources.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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