Here is USEI's last pr about their biofuels from one year ago. Then nothing. Not one more pr or news about these biofuels. So many were scammed.
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U.S. Energy Initiatives & Promethean Biofuels Agree To Ramp Up Fuel Production To Maximum Capacity And Maximum Revenue
SANTA CLARITA, Calif., June 19, 2013 /PRNewswire/ -- U.S. ENERGY INITIATIVES CORPORATION INC.(OTCPink:USEI) is pleased to announce today that USEI and Promethean Biofuels (an EPA approved biodiesel operating for the last 6 years) have signed a biodiesel production agreement whereby the companies will work together to bring this facility to its maximum capacity beginning in the next couple weeks. Promethean has the capacity to produce 2.1 to 3 million gallons of biodiesel per year (MGY) if producing at these levels; the goal is to reach capacity next month. This is a 12 month agreement and the Parties agree to divide the revenue produced by the sale of fuel produced (less cost); which should exceed $6 million dollars annually.According to Anthony Miller, CEO, "This is a significant milestone for USEI and it is an immediate entry into the fuel production arena. This agreement provides us with significant revenue beginning next month. Promethean is a first class operation and has been operating profitably from the beginning. This relationship just allows the plant operate 24 hours a day… 7 days a week well above current levels. USEI will have a physical office at their location and will be hands on as much as possible to lend it experience to the operation. USEI will help with procurement of raw materials and logistical support to ensure that the venture is successful. USEI will be a feedstock provider of biodiesel made from pure vegetable oil which is eligible for a federal excise tax credit of $1 for every gallon blended with conventional diesel. Biodiesel from used cooking oil earns a credit of 50 cents per gallon".. "This is one of many relationships that we intend to create this year. Our immediate goal is to maximize our revenue through creating relationships with existing certified producers that are looking to increase their production levels through shared revenue agreements like this venture.", further commented MillerAccording to Todd Hill Managing Principal, "Promethean is proud partner with U.S. Energy Initiatives, to help meetCalifornia's Mandated Requirement for biodiesel under the Low Carbon Fuel Standard (LCFS). In the next few months we will ramp up towards our name plate capacity and generate significant capital. This venture is part of an ongoing and carefully coordinated plan that Promethean has planned throughout 2014. Note: We are approached often by companies looking for partnership arrangements, but the reality is that we are extremely selective and our focus is on relationships that will yield positive results"About Todd Hill "Todd has held numerous key leadership roles and built a distinguished track record of service to many multinational organizations focused on environmental conservation, sustainable development, and income generation through innovative waste management and renewable energy technologies. Todd has a history of involvement in various business, technical, and community groups in the United States, including the American Society for Testing and Materials (now officially ASTM International), the U.S. Chamber of Commerce, the American Oil Chemists Society, the American Council of Renewable Energy (Acore), the Business Roundtable, the California Biodiesel Alliance, the International Association of Electronics Recyclers (2004-2006), American Mensa, and the Boy Scouts of America. Mr. Hill is a board member of several business organizations including the California Biodiesel Alliance.As the founder of Promethean Biofuels, Todd is focused on the leadership challenge of creating environments that inspire large groups to work together toward a common goal, developing markets, and executing the vision of a sustainable planet. His specialties include: Biofuels & Renewable Energy, Project Management, Technical Consulting, Environmental Engineering, Regulatory Compliance, Clean Tech Ventures. Todd Hill is an internationally recognized expert within the renewable energy and biotechnology fields with an in-depth knowledge and understanding of cooperative and corporate management, public policy, international business, technology and start-up developmentAbout U.S. Energy InitiativesU.S. Energy Initiatives Corporation is a diverse energy firm that has a long history of developing automotive and hybrid fuel systems and technologies. This firm first started in 1996 and has had a long successful business history of developing its business strategies. Management's new goal is to develop its new and old technologies and to build a dynamic energy firm. The Company has three separate energy initiatives; one in the oil, gas & technology sector (brought in by Mr. Miller), one in the hybrid fuel or bio-fuel sector and one in the automotive sector. Our goal immediate goal is to develop our bio-fuel opportunities and going forward our goal is to acquire and develop stranded or un-recovered oil properties for enhanced oil production, create partnerships with operators, create strategic alliances for primary and secondary recovery. Our overall goal is to become an environmentally responsible energy company; utilizing all methods available to generate income. We will market our products to a worldwide market to produce significant revenue and add value for our shareholders.
