Four Rivers BioEnergy Inc. (OTCQB:FRBE) (“Verta”) today issued a letter to shareholders from its Chief Executive Officer, Stephen Padgett, setting out joining arrangements for the Company’s open day to be held at its Waste-to-Energy Plant in Northumberland, North East England, on June 30, 2011.
This letter has been posted to the Company’s web site under the Corporate Presentations section (www.riv4ers.com). Shareholders wishing to join the open day should refer to this letter.
The open day, which was first announced on April 12, 2011, is intended to provide shareholders with an opportunity to meet Verta’s management team, who will be presenting the Company’s most recent Corporate Presentation during the open day, and to join a tour of the Company’s Waste-to-Energy plant and, in particular, see the newly installed generator in situation in the Plant’s Energy Centre.
Verta’s Corporate Presentation will be updated prior to the open day and a copy will be placed in the ‘Corporate Presentations’ section of the Company’s web-site.
Shareholders who are unable to attend this open day will be able to join future such events, which will be announced as Verta continues to develop and expand the Plant.
Overview of Verta’s UK Waste-to-Energy Plant
The Verta Group, which is wholly owned by Four Rivers, will own and operate the Waste-to-Energy plant that Four Rivers has been developing out of the 41 acre industrial site in the UK that it acquired in 2009.
The Verta plant, which is expected to commence operations later this year, includes several ‘zones’ including:
(a) An established ‘Waste Liquid Biomass Processing Plant’ with a substantial processing capacity of 60,000 metric tonnes per annum, which uses established processes and know-how (in what Verta term their ‘Black-Box’ waste liquid biomass capability) to process crude waste liquid biomass into a viable generator fuel (‘Verta’s customized generator fuel’)
(b) A substantial ‘Energy Centre’, which has been developed out of the previous boiler room and heat exchange facility on the acquired industrial site and will be used to house generators which will be fuelled by Verta’s customized generator fuel to produce renewable electricity and heat. The Energy Centre Infrastructure is now largely complete and the first of several generator units was installed in June 2011. It has been configured to house several additional generator units, which will be added on a modular basis and it is estimated that the Energy Centre in its current form has capacity to accommodate generators which will produce an aggregate output of up to some 20MW, with plenty of space to extend upwards to 50MW.
(c) A series of on-site functioning electricity sub-stations, which will be used to supply renewable electricity from the Energy Centre directly into the power grid and to service the site itself.
(d) A future planned crush and oil processing plant which will be used to supply oil into the food processing industry and thereby create captive ‘back-hauled’ used oil for use in the Waste-Liquid Biomass Processing Plant and expand Verta’s captive supply of feedstock into its processing plant.
In addition Verta has entered into a contract to purchase ML Oils Limited, a long established waste oil collection and aggregation business, which will spear-head Verta’s direct interest, at the market entry level, in the waste biomass supply chain, which is important from the perspective of controlling supply volume, price and quality and differentiates Verta from the vast majority of renewable energy companies by integrating feedstock procurement, treatment and energy generation into one natural business cycle.
About Four Rivers BioEnergy Inc.
Four Rivers BioEnergy Inc. is focused on producing and selling energy (in the form of electricity) from sustainable waste and renewable feedstocks. The Company operates in the UK under the trade name Verta Energy. Its business model involves the vertical integration of the energy production cycle from feedstock procurement and processing through to electricity generation and sale, all within one business model and on integrated industrial sites. The Company is currently preparing itself for production at its first Integrated Waste to Energy Plant on an industrial site in the UK which it acquired in 2009. Its medium term aims are to replicate this business model in other geographical regions in the USA, Europe and internationally.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's good faith views and expectations when made. Forward-looking statements are inherently subject to known and unknown risks and uncertainties which, in the case of the company, include raising adequate capital to continue operations, technology and product development uncertainties, competition, cost and availability of feedstock, and plant development and manufacturing scale up. Actual results may differ, perhaps materially, from those discussed in the forward-looking statements. The company discussed in this release is not obligated to update its forward-looking statements or comment on those differences. Readers are encouraged to refer to the recent public filings of the company to further ascertain the risks associated with the forward-looking statements. Readers are urged not to place undue reliance upon such statements.