DALLAS, Oct. 21, 2009 (GLOBE NEWSWIRE) -- Evolution Fuels, Inc. (Pink Sheets:EVFL) (the "Company") today announced its strategy for a rollout of "Evolution Fuels"-branded renewable fuel stations.
The Company's rollout plan extends from Texas and Oklahoma, and eastward through Louisiana, Arkansas, Mississippi, Alabama, and Florida. The plan calls for the establishment of select "marquee" stations within key cities in each of these states over the course of the next twelve months, to be followed by additional stations as permitted by the degree of the Company's future successes.
The Company plans to provide superior quality fuels to competing fuel stations by virtue of the blending capability within the fuel dispensers at its stations and offering the blends at competitive prices. The planned stations will offer ethanol/gasoline blends of fuel including 10% ethanol/90% gasoline (E10), 20% ethanol/80% gasoline (E20), and 85% ethanol/15% gasoline (E85). The latter two blends are intended for flex-fuel vehicles, although recent studies have shown that many legacy vehicles on the road today may use an E20 blend without incurring damage to the engines or fuel systems.
Additionally, a B20 (20% biodiesel/80% petroleum diesel) biodiesel product is planned at the pumps that can be used in diesel engines without any modifications to the vehicle.
Research and testing has been conducted by groups in collaboration with the U.S. Department of Energy (DOE) that show blends of up to 20% ethanol can be used in most legacy automobiles. Specifically, in the summer 2007, the DOE initiated a test program to evaluate the potential impacts of intermediate ethanol blends on legacy vehicles and other engines. Results of those tests can be found in the National Renewable Energy Laboratory's report (Effects of Intermediate Ethanol Blends on Legacy Vehicles and Small Non-Road Engines) published in February 2000: http://feerc.ornl.gov
In December 2007, the American Coalition for Ethanol reported that research findings "show that mid-range ethanol blends -- fuel mixtures with more ethanol than E10 but less than E85 -- can in some cases provide better fuel economy than regular unleaded gasoline, even in standard, non-flex-fuel vehicles." The report may be found here: http://www.ethanol.org/pdf/contentmgmt/ACE_Optimal_Ethanol_Blend_Level_Study_final_12507.pdf
The Company is in negotiations to acquire ownership in existing stations to be converted to "Evolution Fuels" renewable fuel stations, and plans to announce new developments regarding this facet within the next five days.
About Evolution Fuels, Inc.
The Company endeavors to market renewable transportation fuels at retail fuel stations that will provide blends of ethanol ranging from 10% to 85% (E10 to E85), and biodiesel blends from 5% to 20% (B5 to B20). The Company's plan calls for the development of a chain of renewable fuel stations that extend from Texas to Mississippi that will be a combination of "Evolution Fuels"-branded fuel stations/convenience stores and western-motif truck stops modeled after the Willie's Place Truck Stop in Carl's Corner, TX. The Company's Web site is www.evolution-fuels.com.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.