LAS VEGAS and EDMONTON, Alberta, Nov. 7, 2005 (PRIMEZONE) -- Fairchild International Corp. (OTCBB:FCHL) (www.fairchildinternational.com) is pleased to announce that in response to a challenge issued on October 29, 2005, by former President Bill Clinton at the Nevada Development Authority's annual meeting, it has begun searching for a suitable facility that will house administration and sales offices. The Company plans to add research and development facilities once the administration offices are operational.
"If I were the economic development czar for America today or if I were in charge of economic planning for Las Vegas and Nevada today, I would start by making a complete and total commitment to a clean energy future because I think you can create more jobs there than anywhere else," Clinton said. He elaborated saying that renewable methods would lower costs to businesses and consumers while reducing the need for fossil fuel plants that can dirty the environment.
Nevada has the prospect to capitalize on an industry that currently is very new and has few major foreign competitors, leaving a wealth of business opportunities untapped, Clinton stated. He favored Nevada due to its ability to change and adapt quickly, providing an ideal proving ground.
Nevada Commission on Economic Development chairwoman, Lt. Gov. Lorraine Hunt, agreed that Nevada is poised to take a leadership role.
Soaring costs for natural gas and electricity, most of which is generated from natural gas-fired power plants, are causing a real concern as the oil and gas industry in the Gulf States still hasn't recovered while demand skyrockets.
Fairchild owns gasification technology that produces a synthetic gas from almost any carboniferous material. Further, the Company announced on November 1st, 2005 that it had acquired exclusive licenses to the PyStR process. PyStR holds the promise of producing Hydrogen, widely regarded as the fuel of the future, and a big beneficiary of both the U.S. government and the State of California's energy initiatives, at a cost much lower than that using present technology.
About Fairchild International Corp: www.fairchildinternational.com
Fairchild International Corp. (OTCBB:FCHL), through its subsidiary Syngas Energy Corp. is an emerging leader in the development and marketing of low cost alternate fuels worldwide. We believe our superior technology, coupled with an aggressive marketing plan will catapult our company into a GREEN POWERHOUSE. With fuel prices at record high levels and the global focus moving rapidly towards addressing pollution, the need for sustainable, zero emission energy is vital. As global tendencies move towards clean renewable energy, we foresee our company poised to benefit from several revenue streams, our host nations poised to benefit from independence from foreign energy sources and our clients poised to benefit from reliable, clean low cost energy.
Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Such statements are indicated by words or phrases such as "believe," "will," "breakthrough," "significant," "indicated," "feel," "foresee," "revolutionary," "should," "ideal," "extremely," and "excited." These statements are made under "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Fairchild's filings with the Securities and Exchange Commission, including, without limitation, Fairchild's recent Form 10-KSB and Form 10-QSB, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.