OSTERVILLE, Mass., May 11, 2007 (PRIME NEWSWIRE) -- Amelot Engineering & Development Group (AED), a division of Amelot Holdings, Inc. (Pink Sheets:AMHD) today announced the pending opening of the Nashua, NH facility will not occur at the advice of its insurance company and engineering consultant. This counsel has identified that the building located at 164 Burke Street has many permit and infrastructure issues that will prevent it from being a profitable operation.
"This interruption generated by unforeseeable variables does not mean that Amelot isn't going to continue to expand; the Company intends to proceed with its additional sites. This has been a very emotional decision for Amelot. We tried for the past five months to work within the constraints of the facility to make this project work. In the final analysis, it all came down to cost associated with building improvements required, cost of operation and return on investment. We are still committed to fulfill each task in this year's agenda as long as this sort of disruption does not meet us again," stated Allen Giles, President of Amelot Holdings, Inc.
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. 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.
About Biodiesel:
Biodiesel is biodegradable, nontoxic, and essentially free of sulfur and aromatics. It is less toxic than table salt and biodegrades as fast as sugar. Biodiesel reduces emissions of carbon monoxide (CO) by approximately 50% and carbon dioxide (CO2) by 78%. Biodiesel reduces the emission of particulates, small particles of solid combustion products, by as much as 65%. This reduces cancer risks by up to 94% according to testing sponsored by the Department of Energy.
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.