Contact Information: Contact: GLOBAL CLEAN ENERGY INC. Investor Relations 303-522-8449
Global Clean Energy Inc. (OTCBB: GCEI) -- Working to Find Solutions to New European and UK Environmental Standards
| Source: Global Clean Energy
DENVER, CO--(Marketwire - October 20, 2008) - Global Clean Energy Inc. (OTCBB : GCEI ) may
benefit from the new European Union and UK carbon dioxide emission
restrictions and will help members of the EU achieve their CO2 reduction
targets.
GCEI's clean coal mission is to reduce emissions by converting carbon based
feedstocks into synthetic gas to power electric generation facilities.
On October 17th 2008, the UK Government increased its commitment to reduce
CO2 emissions from 60% of 1990 levels by 80% by 2050. GCEI solutions can
contribute and help the UK achieve these targets by converting dirty coal
to clean, synthetic, natural gas for power production. Syngas not only
improves generation efficiency, but also reduces carbon dioxide emissions
by approximately 50%.
At last week's Quarterly European Council meeting in Brussels, it became
clear that there are significant problems for some of the old Iron Curtain
countries in achieving the established EU carbon dioxide emission targets.
Poland, Hungary, Bulgaria and others are almost entirely dependent upon
coal for power production and will, from 2013, be required to buy carbon
permits under the EU Emissions Trading Scheme to continue power production.
GCEI's clean coal technology may be suitable to assist in reducing
emissions in these EU countries. It is anticipated that GCEI's President,
John Grob, will be visiting various authorities within these countries in
November to discuss the possibility of entering into joint venture projects
with coal powered plants.
As part of the Company's goal to reduce global emissions, GCEI is
investigating an opportunity to acquire a facility enabling it to transform
algae into a liquid biofuel. Algae oil to biofuel is a well understood and
highly profitable process that is within the scope of GCEI's business plan,
especially as it is a carbon neutral process. Additionally, it can actually
increase oil yield by "feeding" the algae carbon dioxide from power
stations. This is one of the few alternatives to carbon dioxide
sequestration and is acknowledged to be a cheaper and faster solution to a
major world problem. Prof. Philip Azimov, GCEI's Chief Scientific Liaison,
will be attending the National Algae Association Conference in Houston on
October 23rd, 2008.
The GCEI Dredging Pump, which has been preliminarily tested at the UK Coal
slurry lake, has been enhanced and will be tested in its new extended
capacity form, in a marine dredging situation in Texas, starting October
27th. The pump size has been increased, and its performance enhanced to
provide the volumes required to empty the slurry lake more quickly and to
demonstrate its capacity for seaway marine dredging.
Persons interested in obtaining more information concerning the Company
should either view the Company's website at www.globalcleanenergy.net, or
contact the Company's investor relations department at (303) 522-8449.
Statements in this release, other than statements of historical fact, may
be regarded, in certain instances, as "forward looking statements" pursuant
to Section 27A of the Securities Act 1933 and Section 21B of the Securities
Exchange Act 1934, respectively. "Forward-looking statements" are based on
expectations, estimates and projections at the time the statements are
made, and involve risks and uncertainties, which could cause actual results
or events to differ materially from those currently anticipated, including,
but not limited to delays, difficulties, changed strategies, or
unanticipated factors or circumstances affecting the GCEI and its business.
A number of these risks and uncertainties are described in GCEI's periodic
reports filed with the Securities and Exchange Commission. There can be no
assurance that such forward-looking statements will ever prove to be
accurate and reader should not place undue reliance on any such
forward-looking statements contained herein, which speak only as of the
date hereof. The GCEI will not republish revised forward-looking statements
to reflect events or circumstances after the date hereof to reflect the
occurrence of unanticipated events.