LONDON, July 8, 2010 (GLOBE NEWSWIRE) -- Flex Fuels Energy, Inc. ("Flex" or the "Company") (OTCBB:FXFL) notes the announcement below made today by its 93% owned subsidiary, the WDX Organisation Ltd ("WDX"). This is in line with WDX expectations, announced on May 4, 2010, that agreement with a third party exchange to quote and transact Wocu and Wocu-priced products would be the next important step toward the adoption of the Wocu worldwide.
8th of July 2010, London: WDX Organisation Ltd.("WDX"), the owner and distributor of the real time Wocu™ world currency unit quotation, is delighted to announce the signing of a non-exclusive Agreement ("Agreement") with the Warsaw-based Polish Futures Market S.A. ("PRT"), a wholly owned subsidiary of WGT S.A ("WGT").
The Agreement provides for the listing of Wocu Futures and Options by the PRT. These key derivative products are expected to enable financial market participants to utilise the Wocu and its unique risk reducing, currency balancing characteristics in depth. In addition, use of the Wocu is expected to complement the PRT listings of other financial and commodity instruments.
WGT operates one of the largest exchange based spot commodity markets in Europe. PRT intends to create a European-wide, regulated market for the trading of exchange-based financial instruments based on Central Counterparty Clearing from this geography. PRT is in the process of creating a new set of financial instruments based on the Wocu which will complement the existing exchange-based financial instruments for both the financial and commodity markets.
About Flex Fuels Energy, Inc.
Flex Fuels has Intellectual Property based interests in the UK: BioAMD (www.bioamd.com), a medical device developer; and the WDX Organisation Ltd - the owner of the Wocu™, a derivative World Currency quotation (www.wocu.com).
To find out more about Flex Fuels Energy (OTCBB:FXFL), visit our website at www.flexgp.com. ;
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Forward-Looking Statements
The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. Since the information may contain statements that involve risk and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. Flex Fuels Energy, Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.