DGAP-News: US Fuel Corporation (USFF) Announces Coal-to-Diesel Program With a Guaranteed Output; Low Sulfur, High-Grade Diesel

US Fuel Corp. 

22.08.2012 00:43
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ATCO, N.J., 2012-08-22 00:43 CEST (GLOBE NEWSWIRE) --
US Fuel Corporation, a publicly traded company (USFF), announces an agreement
to acquire intellectual property and key executives. USFF will acquire
coal-to-diesel intellectual property that USFF co-developed with an executive
team consisting of Paul Adams, a corporate leader experienced in technology
innovation and Steve Luck, a finance consultant skilled in the
commercialization of technologies. The acquisition will be underwritten by
Global Private Funding Inc. (Global), a private equity lender, by way of their
Business Incubation Program. 

USFF's cost-effective model and fresh approach to the production of
coal-to-diesel will accelerate the construction of scalable, commercial and
eco-friendly facilities in the United States capable of profitably converting
coal-to-diesel. USFF's model attracted the attention of GPF Real Estate &
Financing Corporation (Global REFCo), a subsidiary of Global Private Funding,
Inc. (Global), who will provide debt based financing to support the
equity-based investments. 

In an interview with Harry Bagot, the President & CEO of USFF, Mr. Bagot
expressed excitement in USFF's incubation by Global as it will bring a
preeminent level of corporate and production oversight as well as governance
and financial maturity to further the success of the company. 

Apart from financing support, Stanley Drinkwater III Esq., USFF's Chairman of
the Board, stated Global's Business Incubation Program will support and
aggressively address immediate resolutions for shareholder issues and protect
the company from frivolous, future litigation. 

Paul Adams and Steve Luck will join the executive management of USFF and work
alongside Global engineers and the complete USFF project team to oversee
facility and coal-to-diesel process development. 

Mr. Adams states, 'The plan is a road map to a profitable and environmentally
friendly way to convert coal into low sulfur, high-purity diesel. US Fuel is
the perfect vehicle for implementing the plan we developed.' 

Renee Lorena Teran, Associate Vice President, International Venture Strategies
at Global, stated USFF's acquisition positions USFF to swiftly replicate the
model globally and anywhere dirty coal feedstock is located and where the
mining process leaves hazardous byproduct. 

In an interview, Steve Luck states, 'We are excited to contribute to a new
industry that will create new jobs, reduce dependence on foreign oil and drive
down the cost of diesel for everyone.' 

Andrew Halarewicz, Sr. Vice President at Global, whose background includes
mechanical control systems and utility plants, states USFF's intellectual
property stabilizes the most uncontrollable cost of mining; fuel. USFF's
on-site coal-to-diesel plants will extend predictability and sustainability
enabling coal mining plants to operate more efficiently. Halarewicz stated that
FirstPoint Energy Corporation, a meter data management and logistics company,
will provide various feedstock and monitoring for USFF to provide progressive
governments such as the Commonwealth of Kentucky an energy source that is cash
positive while feeding electricity back into the grid. 

The US Fuel Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=14194 


         CONTACT: Paul Adams
         Corporate Strategist
         US Fuel Corporation
         856-753-1046
         PAdams@USFuelCorporation.com
         www.USFuelCorporation.com
         
         
         Mary Kananen
         Program Director, Community Outreach
         Global Private Funding Inc.
         800-226-8146 | 805-807-2943
         MaryKananen@GlobalPrivateFunding.com
         www.GlobalPrivateFunding.com
News Source: NASDAQ OMX



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Language:     English
Company:      US Fuel Corp.
              
               
              United States
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