Message #17 From:
Stock News Bot Date: November 9, 2005 02:00:00 AM
EFTI News EarthFirst Americas Receives Largest Shipment of Biodiesel in U.S. History at Port of Tampa
TAMPA, Fla.--(BUSINESS WIRE)--Nov. 9, 2005--
-- First Shipment of 267,000 Gallons of Biodiesel to be Followed by Monthly Shipments Totaling Up to 45 Million Gallons in 2006;
-- Formal Press Conference Scheduled at Port of Tampa on Friday, November 18, 2005
EarthFirst Americas, Incorporated (EFA), a wholly owned subsidiary of EarthFirst Technologies, Incorporated (OTCBB:EFTI) ("EFTI" or "the Company"), today announced the arrival of the first of expected regular shipments of biodiesel. This first shipment, which arrived at the Port of Tampa on November 8, 2005, contains 878 metric tons (267,790 gallons) of biodiesel and is believed to represent the single largest cargo of biodiesel ever imported into the United States. EFA plans to import regular shipments that are expected to grow to monthly loads of 3,000,000 gallons by the end of the first quarter of 2006.
The fuel is biodegradable and registered with the United States EPA. It meets the fuel specifications of reciprocating diesel engines and gas turbines. As a renewable fuel in power generation applications, it qualifies for many renewable energy programs. This first shipment is being sold to diesel distributors and end users throughout Florida.
EFA's biodiesel, "Solar Diesel", is interchangeable with petroleum diesel. It is made from a variety of biological feedstock. This particular cargo of biodiesel is made entirely from Ecuadorian palm oil utilizing existing refining technologies. EFA's partner in the development of biodiesel is La Fabril of Manta, Ecuador, one of the region's largest manufacturers of oils from palm fruit and soy. However, the overall partnership between EFA and La Fabril includes the export of EFTI's Catalytic Activated Vacuum Distillation (CAVD) technology and equipment, which is expected to enhance the efficiency and lower the production costs of the biodiesel refining process.
"This product that fuels trucks, buses and turbines is a form of solar energy. The solar energy is captured by the natural photo cells of agricultural plants and stored in the biodiesel that is readily used by various existing engines without any equipment modification," stated Elio E. Muller Jr., spokesman for EFA.
EFA is responsible for developing EFTI projects in Latin America and the Caribbean in applications dealing with alternative fuels and fuel systems for transportation and power generation. The Company's primary area of focus is in the deployment of various thermal distillation technologies, such as CAVD, for uses in Latin America. EFA employs the CAVD technology to lower the cost of producing biodiesel and other fuels from soy, rapeseed and palm fruit.
EFA has organized an international consortium of businesses producing biodiesel for distribution in the United States, Latin America, the Caribbean and the European Union.
In collaboration with La Fabril, EFA has arranged for follow-on monthly shipments of biodiesel to commence in January 2006. The Company expects to arrange importation of up to 45 million gallons during 2006, more than half of which is expected to be brought into the Port of Tampa. The Company expects to import over 100 million gallons of biodiesel in 2007.
Leon Toups, Chief Executive Officer of EarthFirst Technologies, stated, "This first shipment of biodiesel - perhaps the largest in U.S. history - marks an extraordinary achievement for EarthFirst and EFA. We expect that our biodiesel production and sales will continue to provide powerful leverage for the commercialization of our core technologies."
EFTI and EFA will host a formal press conference on Friday, November 18, 2005 at the Port of Tampa beginning at 10:30 AM Eastern. Invited guests and attending members of the press will view the storage tanks that contain the product and have the opportunity to interview key Company and consortium leaders. Mayor of Tampa, Pam Iorio is scheduled to ceremoniously load the first truckload. To receive a complete press kit and/or additional information about the press conference, please contact Ms. Stephanie Noiseux at Elite Financial Communications Group at 407-585-1080 or via email at steph@efcg.net.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statement of EFTI officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future EFTI actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and EFTI has no specific intention to update these statements.