LONDON, UK, Aug. 4, 2011 /PRNewswire/ - Four Rivers BioEnergy Inc. (OTCQB: FRBE) (operating as Verta Energy ("Verta")) announced today that the Company is making positive progress in the operational testing of its first electricity generator at its Northumberland, UK waste-oil to electrical energy plant.
In June, the Company announced the purchase and installation of a Cummins 1MW generator, the first of a number of generators planned to be installed at the plant. At that time, Verta announced that tests for fuel use and conditional variations would be undertaken on site using the newly installed unit. Those tests were designed to validate the company's business plan assumptions and to determine initial optimal operating conditions, so as to prepare the plant for efficient commercial scale operations.
Stephen Padgett, the Group Chief Executive stated "We're very pleased with the initial operational testing results, which have validated that our Customised Generator Fuel is substantially as efficient as fossil based diesel, but with significantly reduced green house gas emissions. Our business plan is based upon processing waste cooking oil (which will be sourced through vertical integration into the supply chain) into a viable generator fuel using our 'black-box' oil processing plant. This enables us to use that fuel to generate renewable electricity, which will be supplied directly into the grid, using our on-site electricity sub-stations. We've developed the business model to be expandable on a modular basis at the UK plant, where our initial target is an output of 20MW, with expansion thereafter to 50MW. As opportunities arise, we also intend to replicate in other locations around the world."
About Four Rivers:
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.
Overview of Verta's UK Waste-to-Energy Plant:
The Verta Group, which is wholly owned by Four Rivers, will 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 commercial scale 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 terms its 'Black-Box' waste liquid biomass process) to process 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 unit 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.
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.
The Research Report referred to in this press release has been commissioned by the Company. It has been prepared by the leading, reputable Investor Awareness Research Firm, Grass Roots Research and Distribution, Inc, based upon its own research, analysis and findings and the Company neither endorses nor refutes the content of the report and the financial information included within it.
SOURCE Verta Energy