CHEYENNE, Wyo., Feb. 15, 2007 (PRIME NEWSWIRE) -- Amelot Holdings, Inc. (Pink Sheets:AMHD) is pleased to announce that the Company could be eligible for an extra .44 cent per gallon credit for all of the biodiesel Amelot produced if the new proposal by the American Soybean Association is adopted. The ASA called for the resurgence of a recently dropped incentive program for U.S. biofuel producers, which would provide at least .44 cents per gallon, on top of extension of the current $1 per gallon tax incentive, through at least 2010.
Under the "energy" title in the new Farm Bill Proposal, ASA recommended authorization of a new "Biodiesel Incentive Program." It would be similar to the USDA Credit Commodity Corporation Bioenergy Program, which expired last year, but with an emphasis on just biodiesel. The ASA has stated that they are also working to extend the $1/gal biodiesel tax incentive, set to expire at the end of 2008, to at least the end of 2010.
"We are very pleased to hear of this incentive program. The program would help lower our cost of goods dramatically. Having just returned from the National Biodiesel Conference, I learned that this proposal, as well as many other national and state level proposals, have been recently submitted and have a very good chance of passing in 2007. There is a great deal of conversations regarding the leveraging of biofuels as a tool to insure National Security," stated Allen Giles, President of Amelot Holdings, Inc.
About Amelot Holdings, Inc.
Amelot Holdings, Inc. (http://www.amelotholdings.com), a publicly traded company, is a diversified holding company that has identified a projected $20 billion opportunity to manufacture renewable fuels to supply the growing demand and to reduce the dependency and environmental impact of fossil fuels. Amelot Alternative Energy Group, a wholly-owned subsidiary of Amelot Holdings, Inc., is focused on the production of these renewable fuels, with an emphasis on biodiesel. Amelot Holdings, Inc. also owns the following alternate energy and renewable fuel companies: Amelot Commodities Group, and Amelot Alternative Energy, Inc.
The Amelot Holdings, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2149
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.
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