Parabel Inc. (fka PABL)

[di4]

Industry Perspective on Federal Biofuel Investment - PetroAlgae
May 5, 2009 4:59:00 PM


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View Additional ProfilesMELBOURNE, Fla., May 5 /PRNewswire-FirstCall/ -- Dr. John Scott, chairman of PetroAlgae, released the following statement today in response to U.S. Energy Secretary Dr. Steven Chu's announcement of the availability of nearly $800 million in biomass funding:


"This is a good first step toward building America's clean energy economy, but it's not the end game. Going forward, two things will be critical: investing in micro-crops like algae that are more productive and do not jeopardize our food and water supplies; and making sure we back solutions that are commercially viable today and sustainable over the long term."


About PetroAlgae


PetroAlgae (OTC Bulletin Board: PALG) is commercializing new technologies to grow and harvest oil from algae. This process utilizes algae, grown in bioreactors on land not used for cultivation of food crops, which can be reclaimed without remnants of any damage. It also 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 firm offers a path to sustainable, renewable and carbon-neutral energy independence with processes that are good for the environment.


For further information on PetroAlgae, please visit www.petroalgae.com.


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 the launch of our commercialization strategy, the biodiesel market's acceptance 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 biodiesel or other alternative energy 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 and all affiliated parties do not assume any duty to publicly update or revise the material contained herein.



SOURCE PetroAlgae



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Katie Hays of Weber Shandwick Seattle
[phone]
[e-mail]; or Investors
Haris Tajyar of IRI International
[phone]
[e-mail]
both for PetroAlgae