Consolidated Biofuels Submits Certificate of Merger.DALLAS -- Consolidated Biofuels, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CBIO CBIO Counterbattery Intelligence Officer ), an alternative fuel producer, announced today that it has submitted a Certificate of Merger with the state of Colorado that will merge Consolidated Biofuels (Texas) and Consolidated Biofuels (Colorado). Consolidated seeks to construct and operate a 30 million gallon per year biodiesel production Biodiesel production is the process of synthesizing biodiesel. Biodiesel is a liquid fuel source largely compatible with petroleum based diesel fuel. The most common method for its manufacture is synthesis by reacting a glyceride-containing plant oil with a short chain alcohol such facility in Iowa and plans to expand to a total of 6 new facilities over the next 3 to 4 years. The Company is also investigating the acquisition of approximately 10 independent biodiesel facilities, currently in production, located throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , enabling each facility to benefit from a bulk purchasing Bulk Purchasing is when products are bought in large quantities. This often results in a lower price per item, or Unit price. Wholesale is selling or related to selling goods in large quantities for resale to the consumer. power, larger sales contracts Sales Contract Contract between a seller and buyer for the sale of goods, services, or both. and shared technical and administrative support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services . Christopher Sharon, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated, "Consolidated Biofuels is one of the pioneers in the field of alternative fuels, a vital economic and environmental arena. The goal of this merger is to engage the exciting new opportunities and provide liquidity for our shareholders. The move allows Consolidated Biofuels access to the public market and is the culmination of a vision we have had for this industry for years. We will now focus on making our construction and acquisition strategy, which is designed to create a strong growth rate, a reality." About Consolidated Biofuels Consolidated Biofuels is in the alternative fuels and energy field and is dedicated to a cleaner America by increasing the availability of competitive biodiesel fuel nationwide and expanding the effort to reduce pollution caused by petroleum derived diesel fuels. Through tactical relationships, and by merging strategically located independent biodiesel production facilities located in the United States, Consolidated will amalgamate its resources to greatly enhance the facilities' capabilities, allowing producers to realize economies of scale advantages. Additional advantages encompass everything from improved management systems and practices to advanced technical solutions, infrastructure design and deployment. For further information visit: http://www.consolidatedbiofuels.com. This press release contains some forward-looking statements. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this document should be evaluated together with the many uncertainties that affect our business. |
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