OSTERVILLE, Mass., May 17, 2007 (PRIME NEWSWIRE) -- Amelot Holdings, Inc. (Pink Sheets:AMHD), announces that its management, Aziz Hirji, CEO, and Allen Giles, President, met with Fitzsimmons Systems management this past week to view the progress of the technology.
Jointly, Amelot, Fitzsimmons Systems and Turning Mill Consultants have been designing and building a second generation continuous flow processing technology unit with a focus on being one of the industry's lowest-cost producers of biodiesel fuel. The unit is anticipated to produce 7.5 million gallons per year, running at a 90% capacity and produce over $24 million dollars in revenue per year.
"We are pleased to report that progress is moving as planned and forecasting an early June ship date out of the Fitzsimmons facility for installation," comments Allen Giles, President of Amelot Holdings. "There have been several significant modifications to the design to make it more efficient, reduce costs and make it easy to install and obtain the necessary permits. This collaboration facilitates strong positive results and diversified benefits to speed up Amelot's execution of the Company's long term strategy to develop vertically integrated biofuel facilities."
The newly implemented design modifications open up additional opportunities for Amelot to be able to produce Bio-fuel products at the location where the feedstock is available. Examples of possible uses are: producing biodiesel for use in equipment at a long term construction project, biodiesel production in a disaster recovery or remote area or to run power generators and equipment, as well as, producing biodiesel from used cooking oil offloaded from cruise or naval ships to be returned to the ship as fuel.
Fitzsimmons Systems, http://www.fuel-tanks.com, headquartered in Tully, NY, is a major supplier for fuel systems to the U.S. Department of Defense. They have supplied alternative fuel systems and equipment to many of the nationally known biofuels technology providers and engineering procurement contractors in the U.S. for many years.
Turning Mill Consultants, Inc. (http://www.turningmillconsultants.com/), based in Sandwich, Mass., has a long history of providing Engineering Procurement Contracting services for companies such as Bechtel, General Dynamics, AT&T and Verizon. They are licensed to provide Engineering and Contracting services in 32 states across the U.S.
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 Holdings, Inc. has three operational divisions: Amelot Systems Group, (ASG) focusing on the daily operations of all of Amelot's production and distribution facilities, Amelot Commodities Group, (ACG) focusing on the acquisition and global sales of feedstock and finished renewable fuels and Amelot Engineering & Development, (AED) focusing on the development and acquisition of intellectual property to develop a backwards integrated and implementation of Amelot's bio-diesel processing complex.
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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.
Internet address is http://www.amelotholdings.com.