Message #5 From:
NewsBot Date: November 14, 2006 01:45:00 AM
CSBF News Consolidated Biofuels Assumes Lead Position in Regional Joint Venture with International Bio Fuels Corp.
CHICAGO--(BUSINESS WIRE)--Consolidated Biofuels, Inc. (OTC:CSBF). Mr. Daniel L. Honeycutt, CEO of
Consolidated Biofuels, Inc. recently announced that International Bio
Fuels (IBF) and Consolidated Biofuels (C:Bio) have entered into a joint
venture agreement in which Consolidated has agreed to take the overall
lead in the development and subsequent requirements of all of IBF’s
planned biodiesel projects that are located principally within the
Mississippi Valley Corridor. The terms of the agreement include full
continuing project support of the current IBF projects that are already
underway in Arkansas and Mississippi.
In consideration of the full provision of Consolidated’s
project support, C:Bio will receive a participation interest in each of
the completed alternative fuels projects.
Mr. Honeycutt further stated that, “We know
this particular region very well, and I am pleased that we have now
become a value-added resource and full joint venture participant in
moving the IBF/Consolidated regional strategic initiative forward. I am
also pleased that the shareholders of Consolidated will soon begin to
realize the benefits of several months of effort in building our
relationship with IBF and its associated entities.”
Mr. Marty Johnson, President of International Biofuels stated, “As
JV partners, we have more hard work ahead of us. However, Consolidated
has already shown us that it is fully capable of moving our projects in
this U.S. region forward to a positive conclusion. This agreement will
free us somewhat to concentrate more on our U.S. Coastal, Asia and
Africa planning.”
About International Bio Fuels Corporation
International Bio Fuels Corp. is a leading Biofuels company dealing in
both ethanol and biodiesel. IBF was featured at the 2006 International
Biofuels Symposium held recently in Beijing, China. The topic of IBF’s
presentation was Emerging Technologies. To learn more about IBF, go to www.ibfco.com.
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.
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.
