DALLAS, May 14, 2009 (GLOBE NEWSWIRE) -- Evolution Fuels, Inc. (Pink Sheets:EBOF) (the "Company") announced today that it has executed a non-binding Letter of Intent with Inland Harbor, LLC to construct a new truck stop on Interstate 35 near New Braunfels, TX, approximately 45 miles south of Austin, TX.
The Company plans this project as one its first new truck stop facilities established under its new subsidiary, "Legends Travel Centers." Blends of biodiesel will be offered and the truck stop will carry a unique western motif design similar to the flag ship location at Willie's Place Truck Stop near Hillsboro, TX, already in operations.
The site of the truck stop is approximately 15 acres. This new destination location will be designed and constructed to provide modern amenities for truckers and travelers alike. The facility will include dining facilities, a premium convenience store as well as memorabilia. The Company plans to execute final definitive agreements with Inland Harbor within the next 45 days.
Evolution Fuels CEO Dennis McLaughlin said, "The operation at Willie's place has proven that bringing a great country music legend and renewable fuels together is a winning combination by helping to bring the necessary awareness of the availability of clean renewable fuels at the pump. Further, this project is in line with the Company's goal of helping the United States achieve energy independence through the creation of downstream renewable fuels retail outlets."
About Evolution Fuels, Inc.
The Company endeavors to develop retail renewable fuel stations and truck stops modeled after the Willie's Place Truck Stop in Carl's Corner, TX, and to supply biodiesel to these retail locations from its biodiesel production facility located in Durant, Oklahoma. The Company's Web site is currently 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.