DALLAS, Sept. 30, 2009 (GLOBE NEWSWIRE) -- Evolution Fuels, Inc. (Pink Sheets:EVFL) (the "Company") today announced the appointment of Mr. David Farmer as its new Chief Financial Officer.
"We are pleased to have an experienced financial executive as David join our team," said Dennis McLaughlin, CEO of Evolution Fuels. "His strong background will be a tremendous asset to the Company."
Mr. Farmer has over 35 years experience in public accounting as well as the financial services industry. His experience includes SEC reporting, strategic corporate planning, mergers and acquisitions, banking, regulatory compliance, and commercial real estate development.
Mr. Farmer has provided consulting services for the past three years, which have involved SEC reporting, acquisitions due diligence and negotiations, and capital raises. From 2003 to 2007 he was Founder, President, and Chief Executive Officer for Equity Bank, which grew from $25 million in assets to $250 million in assets over a three-year period. From 1993 to 2003, Mr. Farmer served in several senior level positions for various banking and real estate companies in such capacities as Chief Executive Officer, Chief Financial Officer, and Chief Operating Officer. Throughout his career he has demonstrated a consistent ability to accomplish corporate goals and establish high performance standards.
About Evolution Fuels, Inc.
The Company endeavors to market renewable transportation fuels at retail fuel stations that will provide blends of ethanol from 10% to 85% (E10 to E85), and biodiesel blends from 5% to 20% (B5 to B20). The Company's plan calls for the development of a chain of renewable fuel stations that extend from Texas to Mississippi that will be a combination of "Evolution Fuels" -- branded fuel stations/convenience stores and western-motif truck stops modeled after the Willie's Place Truck Stop in Carl's Corner, TX. The Company's Web site is www.evolution-fuels.com.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "foresees," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.