CHEYENNE, Wyo., Dec. 28, 2006 (PRIME NEWSWIRE) -- Amelot Holdings, Inc. (Pink Sheets:AMHD) is pleased to announce that the Company finished strong in 2006 by achieving numerous milestones, such as the launching of several new divisions, retaining experienced officers, and finalizing several agreements with distributors, retailers, and consultants.
The most important achievement of the Company was the appointment of Mr. Allen Giles as President. Mr. Giles formerly served as Founder and Director of Business Development of LifeGuard BioFuels. He also consulted on the development of a 30 million gallon per year Bio-Diesel refinery.
Amelot Holdings recently announced the formulation of their new division, Amelot Engineering and Development. This group will be responsible for the development of a vertically integrated biofuels processing system using micro-algae as the feedstock. Amelot Engineering and Development will be responsible for the implementation of this technology, the build out of all future Amelot facilities and the research and development of wind and solar products.
Amelot Engineering and Development most recently announced that they have signed an agreement with Fitzsimmons Systems, Inc. to supply the Bio-Diesel processing system design and equipment for Amelot Alternative Energy, Inc.'s New Hampshire facility. The Company has also completed an agreement with Turning Mill Consultants, Inc., to be the Engineering Procurement Contractor. Turning Mill Consultants, Inc. will be managing the construction of Amelot Alternative Energy, Inc.'s New Hampshire Bio-Diesel processing facility from implementation through completion.
Over the last year, Amelot Commodities Group, a newly formed division, has announced several distribution agreements with established fuel companies. It is currently supplying bio-diesel to Loud Fuel of Falmouth, Massachusetts for blending and resale to Loud Fuel's customer base. Loud Fuel is a leading distributor and retailer of diesel fuels and heating oil in southeastern Massachusetts and consistently moves over 30 million gallons of diesel fuel a year.
Recently, Amelot Commodities Group also agreed to a working arrangement with Merlin Petroleum Company, Inc. of Westport, CT to supply Bio-Diesel to Merlin for resale to its client base.
"This past year was one of great accomplishments and building for the future of our Company, as well as our industry. As we look forward to 2007, we are thrilled with the foundation that we have laid by bringing on several consultants, as well as assembling a talented and experienced management team. We are currently negotiating several major distribution deals and we're also nearing the completion of our New Hampshire bio-diesel processing facility. It is certainly an exciting time for us and our shareholders," stated Aziz Hirji, Chairman and CEO of Amelot Holdings, Inc.
About Amelot Holdings, Inc.: 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 Bio-Diesel. Amelot Holdings, Inc. also owns the following alternate energy and renewable fuel companies: Amelot Commodities Group, (ACG) and Amelot Alternative Energy, Inc.
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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.