Four Rivers BioEnergy Inc. (fka FRBE)

[Crusader]

Kreido Biofuels, Inc. (OTCBB:KRBF - News) today jointly announced with Four Rivers BioEnergy Inc. (OTCBB:FRBE - News) the closing of their previously announced sale and purchase of substantially all of the assets of Kreido Biofuels to Four Rivers BioEnergy.

Four Rivers acquired Kreido’s spinning tube-in-tube STT® reactors and STT® technology, as well as its modular biodiesel production plant equipment and related assets. The purchase price for the assets, which closed on March 5, 2009, was approximately $2.8 million in cash, 1,200,000 shares of Four Rivers BioEnergy common stock (including 300,000 shares in escrow solely to cover Kreido warrant exercises), a warrant to purchase an additional 200,000 shares of Four Rivers BioEnergy common stock at $8.00 per share, and the assumption of certain purchase orders. The cash proceeds will be used to settle obligations to creditors. The Four Rivers BioEnergy common stock and warrants will be held by Kreido for 360 days, after which time the shares may be sold or distributed.

With the completion of the asset sale to Four Rivers BioEnergy, Kreido released Philip L. Lichtenberger, Chief Operations Officer, from his obligations to Kreido.

Gary Hudson, CEO of Four Rivers BioEnergy, stated “We are excited about our acquisition of this transformational technology. We believe that the STT® technology and the biodiesel plant equipment will help to accelerate the development of Phase I of our multi-product, integrated bioenergy facility near Calvert City, Kentucky.”

The sale of assets was approved by the Kreido stockholders at its annual meeting held on March 4, 2009. At that meeting, the stockholders also re-elected Ben Binninger, Betsy Wood Knapp, David Mandel and David Nazarian as directors.

Ben Binninger, Kreido’s CEO, commented, “The transfer of Kreido’s technology and assets to Four Rivers BioEnergy is consistent with our goals of satisfying our obligations to creditors and allowing our stockholders, through our ownership of Four Rivers BioEnergy stock and warrants, an opportunity to benefit from their loyal support of the STT® technology.”