Online presentation outlines corporate history, accomplishments and future objectives
LONDON, United Kingdom, June 27, 2011 /PRNewswire/ - Four Rivers BioEnergy Inc. (OTCQB: FRBE) ("Verta") announced today that it had posted a new version of its Corporate Presentation to its website (www.riv4ers.com).
This presentation includes substantial new information about Verta and includes sections that expand upon recent key announcements made by the Company including:
|(a)||The agreement that it entered into last month to acquire ML Oils, which is the cornerstone of Verta's vertical (supply chain) integration, supplying up to 5,500 Metric Tonnes of waste oil for power generation; and|
|(b)||The purchase, installation and successful operation of Verta's first generator, using Verta's Customized Generator Fuel, which it produces from waste cooking oils using its oil processing plant.|
The presentation sets out Verta's plans to expand its supply chain integration strategy, building upon the ML transaction, and describes several initiatives that it will be launching in this area. It also describes the steps that Verta now plans to take to reach production levels of 20MW of renewable electricity and then upwards to 50MW and also to replicate its waste-to-energy formula in other parts of the world, where conditions are suitable.
Stephen Padgett, the Chief Executive Officer, commented: "We have completely redesigned our Corporate Presentation to reflect the fact that in the last couple of months we have successfully accomplished our primary goals and have broken though the last development stages of our UK Waste-to-Energy project. Several crucial milestones have been met or been exceeded and we are very close to commencing production on a commercial scale. As a result, for the first time we are able to share significant information about the details of our Waste-to-Energy business plan in the public arena."
Continuing, in the context of our shareholders open-day that is being held later this week, Mr. Padgett said: "On June 30 we are holding the first of what I expect will be a series of open days at our UK site for our shareholders and others who are interested in our business. We will present the Corporate Presentation at that time and we will also conduct a plant tour to show how the Waste-to-Energy plant has been developed out of the brown-field industrial site that we acquired in 2009 and to explain the logical process flow underpinning the plant's design. For those who are unable to join the open day the Corporate Presentation includes a whole section on the Waste-to-Energy Plant layout, including photographs of key areas and process maps."
The Corporate Presentation has also been filed with the SEC under cover of Form 8-K
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.
SOURCE Verta Energy