SALT LAKE CITY, Dec. 1, 2011 (GLOBE NEWSWIRE) -- Infrastructure Developments Corp., (OTCBB:IDVC) today announced that it has begun compressed natural gas (CNG) generator conversion operations in Thailand and that its partner has entered into letters of intent to stage CNG vehicle conversion operation in Arizona.
Infrastructure's first big step into the conversion business is with operations at its facility in Chonburi, Thailand with the diesel to CNG conversion of a huge 250Kva/200Kw Cummins diesel generator. The company expects to expand CNG operations with additional generator acquisitions, conversions and sales in Thailand in the coming months.
Further, Infrastructure's partner, Cleanfield Energy, Inc., entered into letters of intent with U-Fix-It Center – a Tempe, Arizona-based automotive services facility – to provide Infrastructure's CNG vehicle conversion in the Phoenix area. The companies expect to close formal agreements by December 6, 2011.
"Our burgeoning operations in the CNG field are very exciting," commented Infrastructure CEO Thomas R. Morgan. "We are seeing great demand in Thailand for CNG generators. We believe this to be a perfect international match for our vehicle conversion in the U.S."
CNG vehicles are gaining in popularity nationwide due to their low cost, low emissions and domestic supply. Many state and local governments are examining plans to transition from gasoline and diesel to CNG and are dedicating resources to developing CNG delivery systems. Infrastructure and Cleanfield intend to aid in this transition in the new term by entering into the vehicle conversion business and in the long term building refueling stations with the help of tax credits and alternative fuel grants.
"Our partnership with Infrastructure has been instrumental in driving our business forward" stated Cleanfield CEO Jim Kisselburg. "In landing a base of conversion operations in Tempe, Cleanfield will do its part to clean the air in Arizona and across the West."
About Cleanfield Energy:
Cleanfield intends to develop CNG-related businesses in the Western United States. Cleanfield is working toward linking communities and vehicle fleet operators with the appropriate support programs and the technical expertise needed to successfully manage local transitions to clean energy vehicles. Cleanfield is a voting member of the Valley of the Sun Clean Cities Coalition.
In July, 2011 Infrastructure and Cleanfield entered into a memorandum of understanding to provide Infrastructure with the exclusive right to collaborate with Cleanfield and the right of first refusal to acquire or form a more comprehensive joint venture with Cleanfield. Infrastructure expects to finalize the terms of a formal agreement with Cleanfield by the end of the year.
About Infrastructure Developments:
Infrastructure is an engineering and construction services company that services an underserved niche in the global project management spectrum, targeting specialized projects and subcontracts that are too small to attract giant multinational firms, but which still require world class engineering expertise. Infrastructure has recently begun expanding its operations domestically.
Forward-Looking Statements:
A number of statements contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties including our ability to procure design and management projects, competitive market conditions, and our prospects for securing additional sources of financing as required. The actual results that Infrastructure may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Infrastructure encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-Q and Form 10-K. Infrastructure's public filings may be viewed at www.sec.gov.