Message #7 From:
NewsBot Date: April 22, 2008 07:04:04 AM
International Energy Announces Appointment of Rakesh Shankar, PhD
New appointment follows breakthroughs with biofuels technology:
Researchers have developed proprietary system to continuously extract
bio-oil from algae, and novel protocols to enhance growth of hydrocarbon
accumulating microalgae.
International Energy, Inc. (OTCBB:IENI), a developer of leading-edge
technologies for the renewable generation of photosynthetic biofuels,
today announced the appointment of Rakesh Shankar, PhD -- a noted
environmental author, energy sector expert, negotiator and diplomat --
to the Company’s Scientific Advisory Board.
A respected lecturer, published environmental author, former University
professor and researcher, Dr. Shankar holds a Bachelor’s
degree in Science (physics, chemistry and mathematics), a Masters degree
in Philosophy, and a PhD in Environmental Legislation & Policy
Formulation.
Dr. Rakesh Shankar’s career experience spans
over 20-plus years of service as a diplomat in the Middle East, Europe,
Africa, and Canada, including appointment as India’s
Ambassador to the Kingdom of Saudi Arabia. Dr. Shankar subsequently
served as Chief Negotiator for the Government of the Northwest
Territories in Canada, and worked with the “Sustainable
Development Research Initiative” at the
University of British Columbia, pioneering world-class sustainability
research to reconcile economic, ecological, and social imperatives.
“With growing global awareness of the
environmental impact of conventional fuels and the rising cost of oil,
alternative energy sources and algal biofuels in particular, are
promising and much-needed technology solutions,”
commented Dr. Shankar. “It is my privilege to
work with the Company to help advance its algal biofuel initiatives and
build on International Energy’s early success
in the lab.”
In recent research news the Company announced major technological
advances in nutrient delivery and bio-oil extraction processes.
International Energy’s proprietary nutrient
delivery protocol alleviates specific nutrient absorption limitations in
microalgae, thereby enhancing growth and hydrocarbon production.
Researchers have also developed a novel, continuous bio-oil extraction
process that is safe for the Company’s
proprietary microalgae. Microalgae processed utilizing International
Energy’s bio-oil extraction process remain
viable hydrocarbon producers, reducing expected maintenance costs while
maximizing yield per acre.
“These are very exciting research
achievements for us, and I welcome Dr. Shankar’s
support as we move towards commercial development of our algae-to-oil
technology,” stated Mr. Derek Cooper,
President and Chief Executive Officer of International Energy, Inc. “He
has an established history of worldwide experience with high level
negotiations, and expertise with alternative energy and environmental
issues, alongside a solid grasp of conventional oil and energy. Dr.
Shankar is a great asset to our team.”
Among his many appointments, Dr. Shankar has acted as India’s
Ambassador to Zambia and Hungary, and served as Director of Multilateral
Economic Relations at the Ministry of External Affairs. In his position
as Director, Dr. Shankar oversaw matters related to the World Trade
Organization, education, science and technology, environment, and trade
with numerous countries.
ABOUT INTERNATIONAL ENERGY INC.
International Energy, Inc. (Symbol:IENI)
is developing leading edge technologies for the production of biofuels
derived directly from the photosynthesis of green microalgae, which can
accumulate up to 30% of their biomass in the form of valuable biofuels.
As a result of current high oil prices, depleting fossil oil reserves
and growing concerns about increased levels of atmospheric carbon
dioxide, algae have emerged as one of the most promising sources for
biofuel production.
Our technology seeks to convert water (H2O) and
carbon dioxide (CO2) into useful long-chain
liquid hydrocarbons from the photosynthesis of proprietary unicellular
microalgae, which offer advantages in the production, storage and
utilization of renewable biofuels, as they can be harvested easily,
stored in liquid form and do not require special containment systems.
The process of industrial scale algae growth in photo-bioreactors is
non-toxic and non-polluting, can be scaled-up, offers a renewable energy
supply, and aids in carbon sequestration and the mitigation of climate
change.
In contrast to biofuels from food crops or cellulosic materials, certain
algae produce and accumulate oil naturally and can in the process clean
up waste by absorbing and utilizing nitrogen oxides and carbon dioxide.
Additionally, raw algae can be processed to make biofuel, the renewable
equivalent of petroleum, and refined to make gasoline, diesel, jet fuel,
and chemical feedstock for plastics and drugs.
For additional information, please visit www.InternationalEnergyInc.com
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management's future plans, objectives and expectations. Such statements
are forward-looking within the meanings of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. All statements other than statements of historical
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statements regarding the Company's future financial position, potential
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objectives of management for future operations, are forward-looking
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identified by the use of forward-looking terminology such as "may,"
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that are planned will be taken. Forward-looking statements involve known
and unknown risks and uncertainties that may cause the Company's actual
performance and financial results in future periods to differ materially
from any projection, estimate or forecasted result. Some of the key
factors that may cause actual results to vary from those the Company
expects include inherent uncertainties in interpreting engineering and
reserve or production data; operating hazards; delays or cancellations
of drilling operations because of weather and other natural and economic
forces; fluctuations in oil and natural gas prices in response to
changes in supply; competition from other companies with greater
resources; environmental and other government regulations; defects in
title to properties; increases in the Company's cost of borrowing or
inability or unavailability of capital resources to fund capital
expenditures; and other risks described the Company's most recent Form
10QSB and Form 10-KSB filed with the Securities and Exchange Commission,
our quarterly reports on Form 10-QSB and other current reports filed
from time-to-time with the Securities and Exchange Commission.
