The End of Ethanol Subsidies Provides Huge Opportunities for Golden Spirit's Terralene Fuels


NEW YORK, July 25, 2011 (GLOBE NEWSWIRE) -- Golden Spirit Enterprises Ltd. (OTCBB:GSPT) reports that the recent U.S. Senate vote to kill a $6 billion subsidy for ethanol will allow Terralene Fuels to import ethanol economically for use in blending its patented, proprietary, alternative fuel formulation.

The bill was introduced by Senator Dianne Feinstein, D-California which calls for an immediate end to the 45 cent per gallon subsidy paid to oil refiners who blend ethanol. The credit was considered unnecessary by many critics who pointed out that the ethanol blend is already mandated by federal rules. The bill also ended the 54 cent tariff on imported ethanol thereby boosting the purchase of domestic ethanol. Critics pointed out that the ethanol and oil industries do not need subsidies that are costly to taxpayers, harm the environment and increase the cost of food we consume. Moreover, ethanol, made mainly from corn in the United States has diverted too much grain from food to fuel and has done little to ease greenhouse gas emissions.

Many governments across the globe have been implementing mandatory bio-fuel blends (E10) with conventional fuel to further boost up the demand for bio-fuel. While most blends use the more costly Anhydrous Ethanol (no water content) to blend with gasoline,

Terralene uses the considerably less expensive Hydrous Ethanol (some water content) in its formulation.

Given the fact that 29% of its formulation is Hydrous Ethanol, the comparatively low cost of Hydrous Ethanol makes it possible for Terralene Fuel to be very competitive in the alternative fuel market. Furthermore, most imported ethanol is produced from sugar cane which is considered more economically viable, lowering the competitive costs for Terralene. The lower cost sugar cane ethanol can also be produced in warm climates in the U.S. and used in the Terralene Blend.

In reaction to the recent bill, Jaclyn Cruz, President of Golden Spirit Enterprises Ltd. commented, "This announcement presents a fantastic opportunity for Terralene Fuels to enter the marketplace now. We intend to develop this project as expeditiously as possible as we continue to build value for our shareholders."

In addition, Golden Spirit's Management reports that the Company will be changing its name to Terralene Fuels Corporation to better reflect the business direction of the Company. The name change will take effect in about forty five days, subject to regulatory approval. Golden Spirit's main focus has been the development and marketing of Terralene Fuels, a patented alternative fuel blend of fossil fuel and bio-fuel.

About Terralene Fuels

Terralene® is a patented, proprietary, alternative fuel formulation which reduces greenhouse gases and other environmentally damaging emissions which are prevalent in existing gasoline combustion engines. Although the formulation is somewhat based on fossil fuels and other non food chain agricultural components, it is designed as a Green and Clean Alternative Renewable Fuel. Terralene's fuel composition is 55% petroleum based and 45% from renewable energy sources. The internationally known law firm of Gowling Lafleur Henderson LLP is retained to manage the Terralene Patents and Trade Marks.

Visit our site: www.terralenefuels.com

/s/ Jaclyn Cruz                                    

Jaclyn Cruz, President           

For further information contact: 1-888-488-6882

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Golden Spirit's filings with the Securities & Exchange Commission.


            

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