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Vega Biofuels Lays Out Construction Schedule for Pilot Torrefaction Plant

Oct 30, 2014 11:15 AM ET

Vega Biofuels Lays Out Construction Schedule for Pilot Torrefaction Plant
Phase 1 Construction Started at the Company's Allendale, SC Site
NORCROSS, GA -- (Marketwired) -- 10/30/14 -- VEGA BIOFUELS, INC.
(PINKSHEETS: VGPR) announced today that construction has started at
the site of its Joint Venture with Agri-Tech Producers, LLC in
Allendale, SC.

Vega recently announced it has entered into the Joint Venture to
build and operate a pilot manufacturing plant in Allendale, SC to produce Bio-Coal, among other torrefied products. When completed in Q1 2015, the plant will use a patented torrefaction technology to
produce the Company's green-energy Bio-Coal product from plant and
wood biomass, which will then be sold to power companies around the
world. A clean and renewable alternative to traditional coal,
Bio-Coal has a high energy density of up to 13,000 BTUs, and is a
fuel that meets the EU's requirements and those of the Renewable
Portfolio Standards and Renewable Energy Credits (RECs) in the United
States.

The Joint Venture, ATP-SC has leased a 15-acre site on which its
operations will be located. Its sub-tenant, Statiol, SA, will also
locate a pellet plant on the site, as a part of phase 1 site
development, which includes Statiol's investment in shared
infrastructure. Recent pictures show the portion of ATP-SC's site on
which Statiol's construction has begun. ATP-SC's facilities are to be
developed in phase 2 as Statiol completes its construction. In
addition, Statiol's experienced management will be assisting ATP-SC's operations, including pelletizing some of ATP-SC's Bio-coal output.
Immediately adjacent to the manufacturing site, ATP-SC has leased a 40-acre farming site on which various bio-crops will be grown for demonstration and testing purposes. ATP-SC celebrated National
Bio-Energy Day, on October 22nd, by announcing that the farming site
had just been planted with canola, a winter oil-seed crop which will
be replaced by bio-crops in the spring.

Michael K. Molen, Chairman/CEO of Vega Biofuels, Inc., stated, "We
are happy to announce that construction has started at the Allendale site. There was some confusion about the pictures we released a couple of weeks ago. Even though construction has started at the site, the framing work shown in the pictures is part of phase 1 site
development. The building that will house ATP-SC's torrefaction machine has not broken ground yet. That is part of phase 2 on the site and is scheduled to be completed during Q1 of 2015."

Certain statements in this release constitute forward-looking
statements or statements which may be deemed or construed to be
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The words "forecast,"
"project," "intend," "expect," "should," "would," and similar
expressions and all statements, which are not historical facts, are
intended to identify forward-looking statements. These
forward-looking statements involve and are subject to known and
unknown risks, uncertainties and other factors which could cause the
Company's actual results, performance (finance or operating) or
achievements to differ from future results, performance (financing
and operating) or achievements expressed or implied by such
forward-looking statements.

CONTACT:
Vega Biofuels, Inc.
800-481-0186
[e-mail]
vegabiofuels.com

http://www.bloomberg.com/article/2014-10-30/asnuGcFQ9KAA.html