Greeline working on Biodiesel plant in New York State
Renewable Power & Light plc Executes Agreements for Construction of Biodiesel Plant With Greenline Industries
SAN RAFAEL, Calif. and SAN FRANCISCO, Jan. 31 /PRNewswire-FirstCall/ — Renewable Power & Light plc (the “Company” or “RPL”) (AIM: RPL) announced today that, as anticipated at the time of the its admission to AIM, it has executed an agreement with Greenline Industries, LLC of San Rafael, California, USA, to build and commission a 60 million gallon per year biodiesel manufacturing facility in upstate New York (the “Refinery”).
The Refinery will process RPL’s bleached, refined and deodorized palm oil (RBD Palm Oil) into B100 biodiesel. The B100 biodiesel will be blended with 0.1 per cent petroleum diesel to produce B99.9 biodiesel, which will in turn be used to fuel RPL’s power plant at Massena, NY as well as provide an additional 14 million gallons per year of biodiesel to sell in the expanding biofuels market. The Refinery is scheduled to be operational in the fourth quarter of 2007.
In discussing these developments David M. Lewis, Chief Executive Officer of RPL, stated: “We are very excited about the timely execution of these agreements, which are in line with the strategy we laid out at the time of our flotation. They are important milestones in the development of our business, and will help enable RPL to meet its projected timetable for production and sale of renewable power by fourth quarter 2007.”
RPL also confirmed that the acquisitions of the Massena and New Jersey power plants were successfully completed upon the Company’s admission to AIM. Further, work is progressing to re-commission the New Jersey power plant, prepare both power plants to operate using biodiesel and to re-staff both facilities in preparation for electricity production.
About Greenline Industries, Inc.:
Greenline Industries designs, produces and delivers groundbreaking new biodiesel production technology, using EPA Award winning waterless, ion resin exchange processing systems. With over 26 plants under contract, this cost efficient technology is gaining rapid acceptance with major biodiesel producers domestically and internationally. By leveraging strategic partnerships and technical expertise, Greenline provides high quality biodiesel fuel, at a competitive cost-of-entry.
About Renewable Power & Light plc:
Renewable Power & Light plc was established in 2006 to become an independent power producer, with a focus on the generation of “green” or renewable power. The Company’s power generation activities will be based on renewable fuels such as biodiesel, and the application of renewable power generation technologies. RPL owns two cogeneration plants in the northeast United States with outputs of 85MW and 65MW respectively. It is the intention of the Company to convert these plants to operate using biodiesel. In concert with these conversion activities, RPL intends to build a biodiesel manufacturing facility to supply biodiesel to these plants.
For further information, contact:
Renewable Power & Light plc
Tel: +44 20 7659 6642
David Lewis
This announcement does not contain or constitute an offer of securities for sale in the United States. The shares of RPL have not been registered under the US Securities Act 1993 or under the securities law of any state of the United States. Accordingly, RPL’s securities may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offering of securities in the United States.
This announcement may contain certain forward-looking statements. These statements relate to future events or future performance and reflect management’s expectations regarding RPL’s growth, results of operations, performance and business prospects and opportunities. Such forward-looking statements reflect management’s current beliefs, are based on information currently available to management and are based on reasonable assumptions as of this date. No assurance, however, can be given that the expectations will be achieved. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this announcement. While RPL makes these forward-looking statements in good faith, neither RPL, nor its directors and management, can guarantee that the anticipated future results will be achieved.
FOR FURTHER INFORMATION CONTACT:
Peter Brown
Greenline Industries
(408) 206 7035
peter@euromarketingtools.com
