DALLAS, Oct. 26, 2009 (GLOBE NEWSWIRE) -- Evolution Fuels, Inc. (Pink Sheets:EVFL) (the "Company") today announced a strategy to integrate its biodiesel production plan with a plan to establish five of its own branded truck stops. The Company's management believes that maximum profitability of a biodiesel production facility may only be achieved by creating direct demand for the product through retail sales at the pump.
The Company's ownership in the Willie's Place at Carl's Corner Truck Stop located near Hillsboro, TX has provided valuable experience and insight into how and where to create similar truck stop operations. In May of this year, the Company announced the formation of its subsidiary, "Legends Travel Centers LLC," to hold its ownership in truck stop projects, and is actively pursuing existing truck stop operations in Texas and Oklahoma with the concept of establishing five "Legends Travel Centers"-branded facilities.
The Company has developed a plan to allow its facility located in Durant, Oklahoma to process relatively low-cost animal fats into biodiesel. The company is in the process of negotiating a contract for the supply of these fats, which exist in close proximity to Durant.
The Company intends to produce sufficient biodiesel to supply the five truck stops for the biodiesel portion of the B20 (20% biodiesel/80% petroleum diesel) planned for sale at the high-speed commercial truck fuel dispensers. The Company has retained Informa Economics, Inc. to assist with the financial pro forma modeling of the entire operation, and anticipates aggressive margins as a result of the ability to utilize low-cost feedstock and the direct sales through the retail dispensers, thereby retaining all of the margins throughout the fuel supply chain.
Additionally, the Company intends to partner with a major manufacturer of fuel dispensers to develop new technology for the blending of biodiesel and petroleum diesel through the high-speed dispensers that truckers are acquainted with using at the fueling lanes at typical truck stops.
About Evolution Fuels, Inc.
The Company endeavors to market renewable transportation fuels at retail fuel stations that will provide blends of ethanol ranging 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," "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.