Zenergy International, Inc. Announces the Acquisition of Greenlight Biofuels Ltd., a Biodiesel Facility With the Current Capacit
October 29 2009 - 5:03PM
Marketwired
Zenergy International, Inc. (PINKSHEETS: ZENG) is pleased to
announce that the company is concluding its first acquisition of
Greenlight Biofuels Ltd., a biodiesel company situated on 40 Acres
of productive land based out of Lubbock, Texas, and currently in
production in Littlefield, Texas. The transaction will be completed
within a few weeks and funded internally, as not to cause
significant dilution to shareholders.
Greenlight Biofuels Ltd. has developed a robust, proprietary,
and proven technology capable of processing a variety of feedstock.
In alignment with the corporate strategy, having technology that
can use flexible feedstock is particularly advantageous, as upon
market pricing fluctuation the feedstock sources can be changed in
accordance with where the best value lies.
Zenergy International has recently embarked on a biodiesel
facility acquisition strategy. With Greenlight Biofuels Ltd. the
company has invested in an operation capable of producing five
million gallons per year, with 40 acres of land, providing
considerable room for expansion.
Greenlight Biofuels Ltd. is strategically located on the
transport corridor, close to a number of transport fueling depots,
providing a favorable environment for significant local
revenues.
"We are very optimistic about the acquisition of Greenlight
Biofuels Ltd. by Zenergy International. As new Zenergy
shareholders, we look forward to the opportunities for this
biodiesel facility to prosper under the guiding hands of Robert and
his team, especially in the area of feedstock procurement.
Furthermore, we will enjoy watching the development and growth of
Zenergy International through acquisition and the expansion of this
plant along with others," stated Mitch Elliot, CEO of Greenlight
Biofuels Ltd.
"This is the first milestone of our acquisition model as we
continue to search for idled and underutilized facilities that
would benefit from expertise in feedstock procurement and market
access, allowing us to bring the operation from restart to full
capacity and profitability in short order. The current biodiesel
environment has given us a unique advantage to continue to leverage
our efforts around the globe and bring value to our shareholders,"
stated Robert Luiten, Founder & Chairman of Zenergy
International.
As recently announced, the Company's management has refined the
initial capital structure, enabling Zenergy to maximize the growth
potential of its shareholder value. It is, and will continue to be,
of paramount importance to Zenergy International; that as the
Company evolves through new business development and acquisitions,
that Zenergy International's shareholders are given an opportunity
to grow with the Company through an established favorable
environment for profitability.
About Zenergy International, Inc.
Zenergy International, Inc. is a global biofuel solutions
provider which works to deliver biofuels at a competitive price,
focusing on sustainable resources, safe practices, and compliance
with all environmental laws. The Company strives to minimize
overall environmental impact. Zenergy is engaged in the development
and acquisition of biofuel sites, including constructing, acquiring
existing facilities and operating fuel-grade biodiesel and ethanol
plants. Please visit our website at www.ZenergyIntl.com for more
information.
Safe Harbor Act: This release may contain "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E 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. "Forward-looking statements"
describe future expectations, plans, results, or strategies and are
generally preceded by words such as "may," "future," "plan" or
"planned," "will" or "should," "expected," "anticipates," "draft,"
"eventually" or "projected." You are cautioned that such statements
are subject to a multitude of risks and uncertainties that could
cause future circumstances, events, or results to differ materially
from those projected in the forward-looking statements, including
the risks that actual results may differ materially from those
projected in the forward-looking statements as a result of various
factors, and other risks identified in a company's annual report on
Form 6-K or 20F and other filings made by such company with the
SEC.
Contact: For more information visit our website at
www.zenfuels.com or contact Investor Relations: Gibraltan
Financial, (407) 830-9777
Contact: Investor Relations Gibraltan Financial (407)
830-9777
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