EcoPlus updates pending commitment to develop its alternative fuel production plants
EcoPlus Inc. announced that it has made progress toward completing an agreement with Alliance Development Group LLC for the purchase of license rights to the company's patent-pending, commercially proven technology for turning brown grease restaurant refuse into a high quality, solid fuel product, as well as for the direct funding to build up to five fuel production plants in 2007. Closing of the agreement first announced Nov. 3 is expected to take place within the next 30 days...
CHARLOTTE, NC, Jan. 9, 2007 -- EcoPlus Inc. announced today that it has made progress towards completing an agreement with Alliance Development Group LLC for the purchase of license rights to the company's patent-pending, commercially proven technology for turning brown grease restaurant refuse into a high quality, solid fuel product, as well as for the direct funding to build up to five fuel production plants in 2007. Closing of the agreement is expected to take place within the next 30 days. The Alliance agreement was first revealed in a reference to a signed Letter of Intent in a Nov. 3, 2006, Wallstreetnewsalert.com Special News Alert, a press release which offered an investment opinion on EcoPlus.
Bill Burke, president of Alliance Development Group, released the following comment on the EcoPlus L.O.I., "Our focus on completing a $1 billion agreement with Houston University's General Hospital Systems has delayed the completion of our agreement with EcoPlus. We are now focused on completing arrangements with EcoPlus, and we maintain a very high interest in developing their fuel production technology."
Ralph Rogers, president of EcoPlus noted, "Alternative energy technologies, including those for biomass as exemplified in our patent pending system, are finding increasing acceptance and utilization in both the public and private sectors. We are enthusiastic about the positive impact our agreement with Alliance will have on our growth and on the value for our shareholders."
Alliance Development Group (www.goadg.com), a privately held limited liability corporation headquartered in Charlotte, North Carolina, delivers 100% turnkey facilities under Build-to-Suit and Sale Leaseback programs unparalleled in the industry, allowing its clients to expand their locations at a much faster pace. Through an exclusive relationship with Bovis Lend Lease to provide construction management, Alliance clients receive the best value backed by an exemplary reputation in the marketplace.
EcoPlus Inc. (www.ecoplusinc.com) has developed a patent-pending, commercially proven technology that utilizes environmentally friendly procedures for turning brown or restaurant waste grease into economically viable products for the agricultural and energy sectors. The Company's technologies and packaged solutions are being marketed primarily to enterprise and municipal entities, including cities, counties and wastewater agencies -- especially those experiencing excessive FOG (fats, oils, grease) uptake into their wastewater channels, and those seeking to capture normally wasted BTUs for energy, as well as to private companies and investment groups seeking new alternative fuel technologies. The company's high quality, solid fuel product is known as EcoFuel™. This product can be used as: a coal substitute to produce power; as an adjunct fuel in waste-to-energy and steam plant operations; and, as a fuel for industrial process heat utilized over a broad range of applications.