Been following your plays for a month or so now. Very consistant picks. Here is one for you to look at that had news on Friday....Aggie..
Freedom Environmental Services, Inc. (FESI) Executes Letter of Intent to Purchase 30 Million Gallon Biofuel Producer with Full Production Revenues Estimated at $120 Million Annually
ORLANDO, Fla., Oct 31, 2008 (BUSINESS WIRE) -- Freedom Environmental Services, Inc. (Pink Sheets:FESI) announced the execution of a letter of intent to purchase a leading biofuel producer having operations in Florida and Pennsylvania.
The acquisition target has a fuel production capacity of 30 million gallons per year and controls 1,200+ proprietary grease collection accounts, used as low cost feedstock for fuel production. Biofuel production revenues from both locations, at full production, will approach $120 million annually.
Michael S. Borish, Chairman and Chief Executive Officer of FESI, was quoted as saying: "Upon completing this transaction, at pricing substantially under replacement cost, FESI will enjoy significant cost advantages in fuel production costs as well as speed to market efficiencies. The target company has already gone through all the challenges facing a start up with new technology and is now producing high quality fuel for the diesel market. Additionally, through the ramp up process the company has grown its grease collection platform to 1200+ accounts, providing a dependable, low cost feedstock supply for fuel production. The grease collection company is currently profitable as an independent operation. FESI had previously announced its intention to acquire this producer, and the execution of this letter of intent is a major step forward to completing the proposed transaction."
FESI is developing a pricing advantage over other waste collection companies that do not have as profitable an outlet for their organic grease due to the unique ability to maintain a continuous in-house supply of feedstock. Typical pre-tax, pre-incentive profits approach $1 per gallon in the production of Biofuel. Pennsylvania has been a leader in incenting the production of alternative fuel sources and identifying assets in that state has been a priority for FESI.
Freedom Environmental Services, Inc. is an operating wastewater services company servicing commercial, institutionaland municipal infrastructure customers and wastewatersystem protection programs. The Company is developing and managing high yield liquid waste to Biofuel and nutrients conversion programs driven by strategic acquisitions and its commercial customer base. Freedom Environmental Services, Inc.'s website is: www.freedomservicesflorida.com.
DISCLAIMER: This news release may contain forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
SOURCE: Freedom Environmental Services, Inc.
CONTACT:
Freedom Environmental Services, Orlando Brett Rowland, 407-658-6100 Investor Relations: Freedom007@bellsouth.net
Copyright Business Wire 2008
-0-
KEYWORD: United States
North America
Florida
Pennsylvania
INDUSTRY KEYWORD: Energy
Oil/Gas
Other Energy
Environment
