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Aurora Initiates Equity Research Coverage on CleanTech Biofuels (CLTH.OB)Clean Tech Biofuels IncCLTH | 6/23/2008 2:33:52 PMSAN DIEGO, CA, Jun 23, 2008 (MARKET WIRE via COMTEX News Network) --
Aurora Equity Research, a division of Aurora Venture Communications Group (Aurora), has initiated research coverage of CleanTech Biofuels, Inc. (OTCBB: CLTH), the developer of revolutionary waste-to-energy cellulosic ethanol technology systems.

In the report, Aurora Equity Research analyses identify a huge market both domestically and internationally with positive and fast growing trends reflecting strong growth of the industry.

The U.S. biofuel market trends have shown that the biofuel industry in the U.S. is growing at the rate of about 40-50% annually. The annual increase in global biofuel demand is predicted to be about 20% per year and will reach about 28.3 billion gallons in 2011*. CleanTech Biofuels' combination of technologies allows it to take municipal solid waste (that the company is paid to accept) and process it into ethanol fuel. According to the EPA, Americans produce an estimated 229 million tons of Municipal Solid Waste ("MSW") annually. At the estimated conversion rate using the CleanTech's technologies [52 gallons of ethanol per ton of MSW] the annual production of MSW represents a potential fuel source of over 6.5 billion gallons of ethanol per year.

U.S. Department of Energy Secretary Samuel Bodman has stated that his Department had set two important goals for biofuels. The first is to make cellulosic ethanol a practical and cost-effective alternative to gasoline by the year 2012. The second is to displace 30% of our current consumption of gasoline with biofuels by the year 2030. He further added that in order to reach this 30 by 30 goal, America must raise its production of biofuels from the current level of five billion gallons a year to 60 billion gallons a year. He pointed out that the Department of Energy was very interested in cellulosic ethanol because it seems to have the greatest near-term promise. Vehicles on the road today can use a blend of up to 10% ethanol with gasoline without voiding the warranty the manufacturer provides to consumers. There are also about 5 million vehicles on the road today that have been built to use up to 85% ethanol + 15% gasoline (known as E-85).

The full report illustrates rapidly growing demand due the current market climate with benefits to both investors and the environment alike. CleanTech Biofuels has a speculative buy rating with a $2.99-$3.99 twelve month target price. The equity research analysis demonstrates CleanTech Biofuels as well poised to address growing demand through the production of a clean, renewable fuel reducing our country's dependency on foreign oil without adverse effects to our environment or economy. The Company sees financial opportunities and benefits from tipping fees, process license fees, tax incentives and credits, and from resultant ethanol fuel product. To download the complete version of the report please visit: http://www.avcg.net/clth.

About CleanTech Biofuels, Inc.

CleanTech Biofuels, Inc. is developing a set of technologies that, when combined, are capable of converting municipal solid waste into ethanol. Their unique technology package positions them to be the industry leader in using municipal solid waste (MSW) as the primary feedstock for energy production. Municipal Biorefineries developed with our technology will: