NEWS OUT
Heartland Energy HEGP Announces Progression at Oklahoma Facility
Jan 29, 2008 8:30:00 AM
Copyright Business Wire 2008
View Additional ProfilesALEXANDRIA, La.--(BUSINESS WIRE)--
Heartland Energy Group, Inc. (Pink Sheets: HEGP) announced today that they have successfully completed testing of their storage tanks located at their Oklahoma facility.
Binger Oil has pressure tested the storage tanks at the Oklahoma facility and gave them their approval. This is the first step towards certification in preparation for the first delivery of e85.
Heartland Energy is working diligently to prepare the Oklahoma Fuel Station for its earliest opening. The station is located in Southeastern, OK, on a well-traveled thoroughfare carrying traffic from Tulsa, OK to Texarkana, TX. Broken Bow is home of the ever popular Beaver Bend Resort Park and is a developing area of the state. This route also goes through the Choctaw Indian Nation, which includes Resorts and Casinos. The station will feature the company's HE85 ethanol as well as other flex fuels and normal grades of gasoline that are suitable for today's market.
Heartland Energy Group's CEO, Roy Thornhill stated: "The successful testing ensures the prompt opening of our Oklahoma facility. The storage tanks are expected to receive full certification prior to our initial delivery of HE85."
Ethanol Industry:
The growing interest in ethanol, a clean, corn-based renewable resource, has paralleled the escalating price of gas and the urgent need to break the country's dependence on crude oil. Recently, the Big Three automobile manufacturers, GM (NYSE:GM), Ford, and DaimlerChrysler, appealed to Congress for incentives to increase the number of gas stations that offer blends of ethanol. President Bush responded by signing the Energy Independence and Security Act of 2007. Microsoft co-founder Bill Gates invested $84 million into Pacific Ethanol. Vinod Khosla, "guru" of Silicon Valley, co-founder of Sun Microsystems, and one of ethanol's most vocal advocates, has personally invested millions in private companies involved in the development of ethanol. The development of renewable energy resources has created enough buzz to force conventional gas and oil conglomerates such as Exxon Mobil (NYSE:XOM), Chevron, and BP (NYSE:BP) to focus more on alternative energy solutions. Alternative energy companies like Archer Daniels Midland (NYSE:ADM) and Bunge Limited (NYSE:BG) have experienced some resistance in their respective markets due to the rise in feedstock costs.
About Heartland Energy Group, Inc.
Heartland Energy Group, Inc. (Pinksheets:HEGP) is a North American-based alternative fuel resource and service company, dedicated to developing the infrastructure for the delivery of ethanol. Heartland seeks to eliminate North America's dependency on foreign energy sources by focusing on innovative engineering that will enable the mass distribution of ethanol. Heartland Energy Group will transcend the future of renewable energy resources, with the ultimate goal of creating a cleaner brighter energy solution for North America. For more information, visit us at www.HeartlandEnergyGroup.com.
Forward-Looking Statements:
Based on current expectations and assumptions, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical experience and projections. Such forward-looking statements are inherently uncertain, and actual results may differ from those expressed or implied. Consequently, readers should not place undue reliance on any forward-looking statements. Heartland Energy Group, Inc. undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Source: Heartland Energy Group, Inc.
