U.S. Sustainable Energy Corp. to Acquire Controlling Interest in Alcar Chemicals Group, Inc.
Wednesday December 6, 1:33 pm ET
Three Biomass Conversion Facilities Planned for Canada and a Plant With 275 Reactors Planned in USA
NATCHEZ, MS--(MARKET WIRE)--Dec 6, 2006 -- U.S. Sustainable Energy Corp. announced today that it has signed a memorandum of understanding to acquire a controlling interest in Alcar Chemicals Group, Inc.
John Rivera, CEO of USSE, stated, "We are very pleased to announce this preliminary milestone today. Alcar has totally unique and proprietary technologies that separate it from the very few competitors in the renewable natural resources and biofuels marketplace. Alcar utilizes the most advanced biomass conversion technology to manufacture plastic and polymer raw materials and biofuels from non-food crop as main feedstock. They will provide us with additional complementary technologies that will further lower our manufacturing costs and provide further economies of scale. We will now be able to offer Ethanol, Ethylene Glycol, Propylene Glycol, and Ethyl Ester (biodiesel) synthesized from ethanol and vegetable oil in addition to our existing suite of products, which include 7-3-7 organic fertilizer and unique biofuels derived from soy and corn.
Alcar will work closely with USSE to design and implement the reactors in both Canada and the USA. Furthermore, USSE will ensure that existing contracts in place at Alcar totaling 160 million dollars over five years will be fulfilled. USSE expects to issue approximately 5 million restricted shares of USSE and 5 million restricted shares of its subsidiary company, Sustainable Power Corp. (SPC), at the closing of the definitive agreement expected within the next two weeks.
About Alcar Chemicals Group
The Alcar Chemicals Group represents a significant market opportunity due to a serious worldwide supply shortage of raw materials for polymers as well as an increased requirement for ethanol and biodiesel. ACMG has been concentrating on innovative methods for biomass (forestry waste, agricultural waste and non-food crop) valorisation for the past decade, specifically petroleum-independent fuel and plastics resin production. Its proprietary technology represents today's most economical and advanced manufacturing process for plastic raw materials, ethanol and biodiesel, allowing production at cost savings of up to 40% when compared to current production methods.
About U.S. Sustainable Energy
USSEC holds patent pending technology for a new breakthrough biofuel and carbon based fertilizer. USSEC has successfully demonstrated the most cost effective method of producing biofuel estimated at $.50/gallon according to exhaustive studies and independent Lab confirmation. The company has developed the process, units and catalyst that will transform agricultural biomass into biofuel and fertilizer. This technology offers a solution for foreign oil dependence, balancing industrial and agricultural concerns with environmental issues and stabilizing and eventually reversing global greenhouse gas emissions. USSEC's research and development has successfully demonstrated the core technology in its fully functional facility located in Port Gibson, MS. The company is currently pursuing fully scalable implementation and deployment at further locations. Unlike other biomass gasification, the USSEC process can operate at a variety of scale, converting even waste biomass into fuel and fertilizer. The fuel produced will ultimately be more valuable than ethanol or methanol, and the USSEC process can convert biomass materials at an efficiency that cannot be matched by currently planned operations. In addition, unlike virtually all other approaches for biomass to energy, which deplete soil nutrients, the USSEC process restores and enhances soil mineral and carbon content. As a direct result of this revolutionary approach to integrated energy and fertilizer production from biomass, the USSEC process effectively removes Greenhouse Gases from the atmosphere, and can do so profitably before the value of Green Certificates and Carbon Credits are considered.
Source: U.S. Sustainable Energy Corp.
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