HINSDALE Ill., Aug. 29, 2008 (GLOBE NEWSWIRE) -- Voyager Petroleum Inc. (OTCBB:VYGO) (Frankfurt: DXD) is pleased to announce that Monarch Petroleum, Inc., its wholly-owned subsidiary, has extended its existing capabilities to process Crude Glycerin, a significant by-product in biodiesel production.
The initial processing includes what management believes to be an eco-friendly separation of glycerin, fatty-acids and biodiesel, the neutralization of the catalyst involved in biodiesel production, and the removal of water and alcohol. Voyager has successfully laboratory tested the process and has started processing, producing results that comply with a specific customer's requirements.
The production of biodiesel yields a chemical byproduct called glycerine in a rate of approximately ten percent of total manufacturing of biodiesel. Voyager will be paid a tolling fee for the separation of these materials. The byproduct, Glycerine, is a diverse chemical with applications ranging from cosmetics, food ingredients, industrial and food-grade lubricants to hair-care products. Voyager is contemplating potentially expanding its process to further refine the separated glycerine so that manufacturers can utilize higher grade glycerine to their fullest cost advantage. Refined glycerin will result in higher margins. Due to the overall market conditions, refined glycerin currently has had quite substantial price increases. Imported material has been scarce and susceptible to quality issues, tariffs, and lead times which present an opportunity for Monarch to enter into the market successfully.
Sebastien C. DuFort, CEO, stated, "Our goal is to utilize the full capabilities of the plant. By expanding our processing capabilities, we can tailor each batch to run on the input material mix. Glycerin is an environmentally friendly substitute for common petrochemicals on the market. We want to be ahead of the market needs by providing the capability to process Crude Glycerin."
The company continues to market its eco-friendly, re-processing method for used oil and is working diligently to inform regional automotive, industrial, and reclamation customers in the Midwest of its processing capabilities.
Monarch Petroleum, Inc., Voyager's wholly-owned subsidiary, operates the 20,000 sq. ft. Detroit facility using its own process for reclamation of used oils to produce petroleum and other lubricants in an economically, environmentally, and what management believes to be a socially responsible manner. Voyager expects to capitalize on the demand for recycled lubricants and other materials through its own process and available capacity by market penetration, customer retention and cost reductions for its potential customers.
About Voyager Petroleum
In its quest to manufacture and distribute eco-friendly petroleum-based products and services to the automotive and manufacturing aftermarket, the Company intends to promote its environmentally conscious processing methods for reclaimed used oil. The Company will seek to acquire reputable middle-market petroleum-based lubricant companies that process, blend, package, and distribute lubricants and related products as well as acquire facilities to conduct like operations.
Forward-Looking Statements
This press release contains forward-looking statements, which represent the Company's expectations or beliefs, including, but not limited to, statements concerning plans, growth and strategies, which include, without limitation, statements preceded or followed by or that include the words may, will, expect, anticipate, intend, could, estimate, or continue or the negative or other variations thereof or comparable terminology. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These statements by their nature involve substantial risks and uncertainties, some of which are beyond the Company's control, and actual results.