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Monday, October 27, 2014 3:21:21 PM
"We are very proud to have Gone Green as a part of our Company," stated Michael K. Molen, Chairman/CEO of Vega Biofuels, Inc. "We feel that this acquisition could be a game changer for us. We have been very successful to date selling biochar to customers in the agricultural business. However, we did not have full access to the many other industries where biochar can be used. What we were really after in this deal was the Reseller Agreement that Gone Green has with Biochar Now. We now have a strong foothold in the multi-faceted biochar business and we expect it to significantly impact our revenue numbers this year. Our plan for now is to keep Gone Green a subsidiary of Vega and move all of our biochar business into that subsidiary. This would give us the option of spinning the subsidiary off into its own public entity down the road and could provide a nice dividend for our shareholders."
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