NEW YORK, Aug. 23, 2010 (GLOBE NEWSWIRE) -- El Maniel International Inc. (OTCBB:EMLL) announces today that the company, through its subsidiary EMLL Energy Limited, has entered into preliminary discussions with a Chicago based Biofuels Distributor and Oil Terminal Operator with proven success in delivering cleaner oil and fuel sources using a percentage of food, plant & fat based bioenergy.
The discussions are part of an overall renewable energy initiative set forth by EMLL to engage in clean fuel technology via a portion of their facilities in Eastern Pennsylvania. "Biofuels are extremely beneficial to the environment while at the same time, a very lucrative industry in line with global goals to engage in development and utilization of clean energy and technology solutions," states Jamie Khoo, CEO of EMLL. "We are currently working to identify the right partners to work with in implementing our facilities as part of a biodiesel partner's distribution network in servicing surrounding communities."
According to The Clean Energy Trends Report 2010, which includes growth projections for the major clean-energy sectors (solar PV, wind, and biofuels), as well as global clean-tech investment and jobs data, combined global revenue for the three major clean-energy sectors -- solar photovoltaic (PV), wind power, and biofuels -- grew by 11.4 percent over 2008, reaching $139.1 billion in 2009. These three sectors are expected to reach $325.9 billion by 2019.
As well, the global production and wholesale pricing of ethanol and biodiesel reached $44.9 billion in 2009 and is projected to grow to $112.5 billion by 2019. In 2009, the biofuels market consisted of more than 23.6 billion gallons of ethanol and biodiesel production worldwide. Lastly, the report finds that U.S.-based venture capital investments in energy technologies declined from $3.2 billion in 2008 to $2.2 billion in 2009. However, clean energy's percentage of total U.S. venture capital investments continued to rise, accounting for 12.5 percent of total activity in 2009. This represented the largest share in the history of the clean-energy asset class.
Aside from the positive financial outlook, USDA and DOE reports that soy-based biodiesel reduces net carbon dioxide by 78% and mitigates overall carbon monoxide, sulfur, unburned hydrocarbons and harmful particle matter. "The use of biodiesel is great for the American economy too: it reduces dependence on foreign oil and is tremendously cost-effective to produce," states Khoo.
EMLL and the Chicago-based provider had exchanged preliminary information and formalities sufficient to move forward with a site visit to the oil terminal facility in the coming days to assess its overall potential accordingly. "We will post updates via public release promptly in these next steps which we feel are more than promising," states Jamie Khoo. "We had also secured a new media provider to work on a new corporate website, with attempts to communicate the profile and progress of our projects in hand with substantial asset overviews, current pictures, investor relations portals, news updates and more. We are expediting this process towards collective benefit, particularly in terms of sharing overall progress and corporate accessibility and investors are advised to stay tuned for latest updates."
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward-looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company's expectations or future events.
Press Release drafted by NMR, LLC