Green Fuel GlyClene™ Turns Golden with Three-Million-Gallon Per Month Initial Open Order from Oldcastle Materials Inc.
Business Wire
Posted: 2009-03-24 11:08:00
Sales of GlyClene™, the renewable fuel made from biodiesel byproduct, have "ignited" with a contract to provide three million gallons per month to Oldcastle Materials Inc., the leading U.S. supplier of asphalt and ready mix concrete. Oldcastle will use GlyClene as a fuel-oil supplement to aid in compliance with government mandates to offset fossil-fuel consumption and carbon emissions with renewable fuels. Green fuel innovator XcelPlus Global Holdings Inc. (Pink Sheets: XPGH), maker of GlyClene, estimates the value of the contract at $40-60 million, depending on market conditions.
"We will begin deliveries before the end of March," said J. Michael Parsons, president of XcelPlus. "Sales of GlyClene open a new chapter for biodiesel producers with an incentive to ramp up capacity. The revenue opportunity for byproducts creates another salable commodity for the industry's portfolio."
GlyClene, a renewable fuel-oil supplement, is one of two fuels XcelPlus produces from biodiesel byproducts using its Waste 2 Oil process. The other fuel, GlyCoal™, is a sulfur-free supplement for large industrial applications. Both qualify for fossil fuel and carbon emission offsets.
Oldcastle Inc., headquartered in Atlanta, Georgia, is a subsidiary of CRH plc (NYSE:CRH), Dublin, Ireland. The company has 1900 locations in the U.S. and Canada.
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although XcelPlus Global Holdings Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by XcelPlus Global Holdings Inc. or any other person that the objective and plans of XcelPlus Global Holdings Inc. will be achieved.
