ATCO, N.J., Dec. 10, 2012 (GLOBE NEWSWIRE) -- US Fuel Corporation, traded as USFF, announced today that Empyrean West has been selected as the exclusive "foreign investment for visa" administrators for its Coal-to-Liquid Fuel projects; both Diesel and Jet-Fuel.
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Empyrean is the Gold standard for EB-5, green card for investment program. Their proprietary integrated systems will allow Kentucky officials to real-time monitor investments and job creation while validating project status and completion.
Paul Adams, Chief Operating Officer of US Fuel, a member of the California bar, researched EB-5. He commented on the selection of Empyrean, saying that the ability to deliver a green card for qualifying investment is far more complicated than just any attorney filling out a form. Although there are many approved EB-5 regional centers, Global Private Funding (Global) reports that most regional centers operate on the 80/20 rule where they expect success 80% of the time. This model has caused foreign investors to be displaced and deported after establishing themselves and their families here in the U.S.; with children in school and most often the purchase of a house. "Empyrean West operates differently from other regional centers I investigated; it validates projects before seeking the investment, which is better for both the project and the investors," said Adams.
Empyrean West conducted considerable analysis of the US Fuel business plan and financials to validate that the jobs will be created. "The failure to perform this upfront due diligence is an injustice to the investor and gives the EB-5 program a bad name. We are confident of the US Fuel jobs," said Jay Carter, Chief Operating Officer of Empyrean West.
Carter emphasized that the U.S. needs the investment to create new jobs while we build a quality pool of new residents and citizens who add to the economy rather than stress the U.S. social support programs.
"The more agencies that are behind the US Fuel projects, the greater the potential for success," said Dr. Sam Senev, the Chairman & CEO of Global Private Funding; the financiers of US Fuel projects. He further added that since Global is a private equity firm, U.S. Citizenship and Immigration Services (USCIS) and Department of Homeland Security (DHS) validation of the projects and the foreign monies entering the U.S. help the internal underwriting process and bolsters U.S. investor confidence in this otherwise tough economy.
"As a publicly traded company, the Board of Director's mandate to the officers is to maintain and build investor confidence through measurable results, meeting milestones and reporting accomplishments rather than expectations," said Stanley Drinkwater, Chairman of the Board of US Fuel. He added, "Our goal is to design, build, own and operate coal to synthetic fuel facilities, and ultimate success is when the first drop of fuel is produced."
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