Consolidated Biofuels and IBF JV Announce Planned 150 MPGY Biodiesel Production/Crush Facility at Arkansas Port Location.CHICAGO -- Yesterday, in cooperation and agreement with International Bio Fuels Corp., Consolidated Biofuels, Inc., a Chicago-based alternative fuels company (Pink Sheets:CSBF CSBF Civil Service Benevolent Fund (United Kingdom) CSBF Columbia Scientific Balloon Facility (formerly National Scientific Balloon Facility) CSBF Casual Sex Between Friends ), announced through its 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. , Daniel L. Honeycutt, that on November 28, 2006, IBF IBF See: International Banking Facility , on behalf of the IBF/CSBF joint venture partnership, contracted with Chicot County, Arkansas Chicot County is a county located in the U.S. state of Arkansas. As of 2000, the population is 14,117. The county seat is Lake Village. Chicot County is Arkansas's tenth county, formed on October 25 1823 and named after Point Chicot on the Mississippi River. to build and operate a unique combination 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 and soybean oil Soy´bean oil n. 1. an oil obtained from the soybean (Glycine max), rich in protein, fats, sterols, and phospholipids, used as a food and in paints and varnishes and in various industrial applications; - crush facility located at the Port of Yellow Bend in Arkansas. The planned production facility, when fully operational in 2008, will have a designed capacity of 150 million gallons of biodiesel and 70 million bushels of soybean oil crush annually. The facility will be located on 65 acres of optioned acreage immediately within the Port of Yellow Bend's facilities. The Port of Yellow Bend is strategically located on the Mississippi River Mississippi River River, central U.S. It rises at Lake Itasca in Minnesota and flows south, meeting its major tributaries, the Missouri and the Ohio rivers, about halfway along its journey to the Gulf of Mexico. , in the heart of the Soybean soybean, soya bean, or soy pea, leguminous plant (Glycine max, G. soja, or Soja max) of the family Leguminosae (pulse family), native to tropical and warm temperate regions of Asia, where it has been Belt in the Mississippi Valley Corridor, just east of McGehee, Arkansas McGehee is a city in Desha County, Arkansas, United States. The population was 4,570 at the 2000 census. History McGehee was founded as a rail-road town. The population of McGehee has been declining since the late 1960s. . The proposed project's low-risk and unique funding methodology will initially utilize an Act 9 Public Bond issuance in the amount of $78 million dollars that was approved to be facilitated within a blended public/private funding arrangement. The initial and any subsequent bond issuances will be processed and overseen by an already- retained regional professional financial services management group headquartered in Little Rock. The project's well-situated feedstock sourcing entity is confident that the current and future agricultural and animal feedlot feedlot a management system in which naturally grazing animals are confined to a small area which produces no feed and are fed on stored feeds. See also dry lot. backgrounding feedlot production within the 100 mile radius around Yellow Bend will be sufficient to supply the project's crush oil requirement and also to regionally utilize all of the crush mill's meal production for use as a premium animal feed source. Honeycutt also stated that, "I am more than impressed by the leadership and strong vision demonstrated by the public and private sectors in Chicot County and at the State Capitol. Both Consolidated and IBF are looking forward to becoming fully engaged as good corporate citizens of Arkansas and Chicot County." Mr. Marty Johnson, President of International Biofuels (www.ibfco.com) stated, "This facility represents many months of very intense work and planning to build what will become, when it is fully operational, the largest combination feedstock and biodiesel production facility of its kind in the world." About Consolidated Biofuels, Inc.: Consolidated Biofuels, Inc. is a development-stage, alternative fuels company that has aligned its business strategies, research, consulting, alternative fuels solutions and environmental strategies with the needs of the commercial transportation industry, including trucking, railway, barge and tanker shipping modalities. For further information visit our website: http://www.CBioIntl.com For financial statements and past press releases visit: www.pinksheets.com This press release contains some forward-looking statements. Forward-looking statements involve estimates, projections goals forecasts, assumptions, risk and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements, and are current as of the date on which such statements are made. 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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