Parabel Inc. (fka PABL)

[Jitz]

MELBOURNE, Fla., Dec 22, 2008 (BUSINESS WIRE) -- PetroAlgae, a leading
developer of systems to derive biodiesel fuels from algae, today announced that
its parent company, PetroTech Holdings Corp., has acquired Dover Glen, Inc., a
publicly-traded company listed on the OTC Bulletin Board under the symbol
"DVGL". As part of this transaction, PetroTech Holdings Corp. transferred its
entire ownership interest in PetroAlgae to the newly-acquired company, thereby
maintaining its majority ownership position in PetroAlgae, which is expected to
account for the newly-acquired company's sole asset and primary line of
business. The name of the newly-acquired company has been changed to PetroAlgae
Inc. and is expected to continue to trade under the stock symbol "DVGL" on the
OTC Bulletin Board until a new ticker symbol is announced.

Concurrent with this acquisition and the resignation of the predecessor's sole
officer and director, PetroAlgae's current Chief Financial Officer, David
Szostak, has also assumed the additional duties as the newly-acquired company's
President together with his CFO position, which he is expected to maintain. The
newly-acquired company has also appointed three new directors to serve on its
Board of Directors.

"Our evolution into a publicly-traded company is simply the next logical and
timely step for us, particularly when considering that our groundbreaking
technology could allow us to become the first ever to achieve large-scale
commercialization of algae-derived biodiesel fuels," said Dr. John Scott,
Director. "In doing so, we believe we will have met yet another milestone for
our company, employees and shareholders. Today's listing in the U.S. capital
markets will, I am sure, provide our shareholders with a platform for much
greater liquidity, valuation and financial and operational transparency,"
concluded Dr. Scott.

About PetroAlgae

PetroAlgae is commercializing new technologies designed to grow and harvest oil
from algae. This process creates a sustainable, renewable, cost-effective
substitute for petroleum oil and a reliable, environmentally-friendly feedstock
source for biodiesel and many other products. The Melbourne, Florida-based
company offers a path to sustainable, renewable and carbon-neutral energy
independence with processes that are environmentally-friendly.

Forward Looking Statements: This news release may contain certain
"forward-looking statements." Forward-looking statements are based on current
expectations and assumptions and are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified, and many of
which are beyond the Company's control. Actual results could differ materially
from these forward-looking statements as a result of a number of factors,
including the uncertainty of acceptance in the market for our products and
technologies or the acceptance of our customers' products or technologies which
incorporate our products and technologies, the failure of our technology to
perform as predicted, competition from alternative technologies, uncertainties
as to the size of the markets, cost and margins for the Company's products,
current or future government regulations affecting the use of the Company's
products and technologies, the lack of availability of critical components, the
degree of protection from future patents, other risks associated with the
development or acquisition of new products or technologies and those risks
detailed in the Company's filings the SEC. Given these risks and uncertainties,
investors are cautioned not to place undue reliance on such forward-looking
statements and no assurances can be given that such statements will be achieved.
The Company, its holding company, and all affiliated parties do not assume any
duty to publicly update or revise the material contained herein.

SOURCE: PetroAlgae



CONTACT:
PetroAlgae
Dr. John Scott
321-409-7403




Copyright Business Wire 2008

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