OSTERVILLE, Mass., June 19, 2007 (PRIME NEWSWIRE) -- Amelot Holdings, Inc. (Pink Sheets:AMHD) announces that it has reached a major milestone upon receiving notification that its application and review with the Internal Revenue Service has been completed and approved. The IRS Form 637, Application for Registration (For Certain Excise Tax Transactions) registers and provides Amelot with the ability to: Blend gasoline, diesel fuel, including diesel-water fuel emulsions or kerosene outside of the bulk; produce and import agri-biodiesel; produce and import alcohol, essential in the blending process; produce and import biodiesel other than agri-biodiesel, including renewable diesel.
More importantly this registration provides Amelot with the ability to apply for the incentives provided in the Ethanol and Biodiesel Tax Provisions in the American Jobs Creation Act of 2004, .01 per percentage of biodiesel blended with diesel, as well as the Production Tax Incentives in the Domenici-Barton Energy Policy Act of 2005, $.10 cents per gallon Small Producers Biodiesel Production Credit up to 15 MGPY and an aggregate of 60 MGPY out to the end of 2012. All of these incentive programs allow for competitors like Amelot to register with the department to become eligible to receive grants based on the amount of biofuel produced.
"Amelot has moved into a vital part in its effort to commercialize while becoming an active participant in the U.S. alternative energy program. This move will also provide our shareholders with a pathway to even greater value in Amelot as we utilize the rich pipeline of opportunities provided by legislation. This was a six month process for us. The IRS agents assigned to our application were very knowledgeable and accommodating. This IRS registration is one of the most important milestones Amelot needed to achieve and we look forward to demonstrating the underlying value of our capacity over the coming months," commented Allen Giles, President of Amelot Holdings.
About Amelot Holdings
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.
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.
Internet address is http://www.amelotholdings.com.