CHEYENNE, Wyo., July 15, 2008 (PRIME NEWSWIRE) -- Amelot Holdings, Inc. (Pink Sheets:AMHD) is pleased to announce that the company is less than 6 weeks away from the official start up of its Barbados subsidiary.
The new subsidiary will focus on recycling the island's used cooking oil, converting the yellow oil into biodiesel fuel. Handel Callender, Managing Director, and Greg Hawkins, Business Development Manager, have been hard at work building a solid and reputable foundation for the new subsidiary as well as initiating and developing partnerships throughout the island. The National Parish Ambassador's Program has been the most vital partnership thus far. The program focuses on community development awareness as part of the Island's independence celebration. Mr. Callender has begun working with the Parish Ambassadors of St. Thomas in order to establish a collection program for used cooking oil. The Parish along with Amelot plans to build the collection program through education, and public awareness. The Future Centre, a local educational organization on environmental issues, will be another key counterpart and partner in educating Barbadians about this renewable energy source. Negotiations are in the works for Amelot to operate from within the Centre's main facility.
"The development of this new subsidiary is coming along as planned," stated Aziz Hirji, President of Amelot Holdings, Inc. "We are in the process of adding a new processing system that could ramp up our production to 15,000 gallons per month, more than double our original production estimate. This processing system will be the model for future programs throughout the Caribbean and the world. Our design is mobile, thus, making it very easy to move and set up in locations with increasing demands for Biofuel.
"Amelot is looking forward to being a valuable part of the Green Initiative in Barbados and throughout the Caribbean. Management has been working hard with the local Parishes, and we hope to begin working closely with the Ministry of Environment and Barbados Light and Power in order to further educate the public. Amelot will strive to be a solid foundation and leader in the effort to make Barbados, and the rest of the Caribbean, more energy self-sufficient and environmentally responsible."
About Amelot Holdings, Inc.:
Amelot Holdings, Inc. (http://www.amelotholdings.com), a publicly traded company, is a diversified holding company that has identified Biodiesel as a $20 billion emerging market. Amelot plans to have a significant market share in growing low cost feedstocks to supply the growing demand for Biodiesel, to reduce energy dependency of fossil fuels, to help reduce the US dependency on foreign oil supplies and reduce the impact of energy on our environment.
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Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements.