Message #4 From:
NewsBot Date: December 15, 2006 12:00:00 PM
MEMS News MEMS USA Inc. Officially Changes Name to Convergence Ethanol(TM) Inc.
LOS ANGELES--(BUSINESS WIRE)--Nevada Corporation MEMS USA Inc. (MEMS.OB) (OTCBB:MEMS)
announced today that the company has officially changed its name to
CONVERGENCE ETHANOL INC. and that it has been granted the new ticker
symbol: CETH.OB (OTCBB:CETH).
The company has simultaneously launched its new corporate logo.
“Our new name and logo positively reflect the
emphasis within the company on clean fuels and biorenewable ethanol,”
said Dr. James A. Latty, president and chief executive officer,
Convergence Ethanol. “We are extremely pleased
to now be seen as part of the emerging alternative fuels market. The
company is setting off down a clear and exciting path.”
The Convergence Ethanol mission is to support the energy industry’s
production of cleaner burning fuels, through the development of
profitable, biorenewable energy refineries and through the engineering,
fabrication and sale of environmentally focused refinery systems and
equipment.
Convergence Ethanol is currently developing Hearst Ethanol One Inc.
(HEO), a woodwaste-to-ethanol refinery to be built in Hearst Ontario
Canada. The company owns 87% of the project. The refinery will use
modern catalytic processing, as used in oil refineries, to synthetically
convert cellulosic woodwaste into ethanol. “Given
the high and rising price of corn, the conversion of low-cost woodwaste
will be important in future ethanol production,”
said Dr. Latty.
According to the Canadian Renewable Fuels Association, more ethanol is
needed in Ontario in order to realize a renewable fuels mandate that all
gasoline sold in that province contain at least 5% ethanol by 2007, with
the goal of 10% by 2010.
In concert with its new corporate image, Convergence Ethanol has teamed
up with Grass Roots Investor Relations, a firm specializing in the
renewable and alternative energy market. “We
see a very good future for Convergence Ethanol,”
said Scott Robbins, Convergence Ethanol’s IR
representative. Mr. Robbins has followed the alternative energy market
for the past nine years and has an extensive background in dealing with
companies trading over the counter.
Recognizing the need for a web presence to present the company’s
new focus, Convergence Ethanol and Grass Roots have begun development of
a totally revamped Convergence Ethanol website that will focus on
reaching the large on-line community concerned with alternative fuels
and on improving on-line relations with the company’s
shareholders.
California-based Convergence Ethanol is an ISO 9001:2000 certified,
biorenewable energy project developer and a provider of engineered
products and systems to the energy industry.
Safe Harbor Disclosure
This press release contains certain forward-looking statements, within
the meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Act of 1934, that involve a number of risks and
uncertainties. Actual events or results may differ from the company's
expectations. In addition to the matters described in this press
release, risk factors listed from time to time in the reports and
filings with the Securities and Exchange Commission may affect results
achieved by the Company.
