ORLANDO, Fla., Feb. 15, 2008 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., today announced that it has issued a research update for the third quarter 2007 on H2Diesel Holdings, Inc. (OTCBB:HTWO), a development stage company working to commercialize the manufacture of an alternative biofuel made from domestically produced, renewable vegetable oil.
Neha Bhargava, MBA, RedChip Research Analyst, has issued a 12-month target price of $11.00 for the company. She wrote in the report:
"HTWO is heading towards commercializing its proprietary technology of making renewable biofuel by involving itself in various programs and test agreements. Two test programs at Dynegy's Oakland Power Plant have already been successfully completed, lending credibility to HTWO's technology. Management believes a recent test burn agreement with Mirant Energy will add to its commercialization efforts. If the testing is successful, the two companies intend to negotiate a mutually agreeable purchase agreement for HTWO's biofuel technology. During Q3 2007, the Company started its first biofuel production plant at the Twin Rivers' facility in Cincinnati, Ohio, another step in its commercialization efforts.
"We continue to maintain our Speculative Buy rating on HTWO, as we believe the stock will appreciate as the Company moves towards commercialization of alternative biofuel technology and products. We believe the rapid growth of the biofuel market along with government support for this alternate source of energy in terms of funding and grants will help to commercialize biofuel technology," Bhargava concluded in the report.
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Disclosure
The analysts contributing to this report do not hold any shares of HTWO. Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. RedChip certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the report. Additional information on the securities mentioned in this report is available upon request. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and is not purported to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed therein are subject to change. H2Diesel Holdings, Inc., is a client of RedChip Visibility, a division of RedChip Companies. HTWO paid RedChip Visibility $20,000 for the RedChip Visibility Research Program, which includes this equity research report. Please read full disclosures and analyst background at www.redchip.com.