..... the definitive agreement expected within the next two weeks.....
May be " we " are on the need to know basis, and we don't need to know........
By USSEC · Wednesday December 6, 2006 12:00 AM
Three Biomass Conversion Facilities Planned for Canada and a Plant With 275 Reactors Planned in USA
NATCHEZ, MS--(MARKET WIRE)--Dec 6, 2006 -- U.S. Sustainable Energy Corp. (Other OTC:USSE.PK - News) announced today that it has signed a memorandum of understanding to acquire a controlling interest in Alcar Chemicals Group, Inc. (Other OTC:ACMG.PK - News) (http://www.alcarchemicalsgroup.com)
John Rivera, CEO of USSE, stated, "We are very pleased to announce this preliminary milestone today. Alcar has totally unique and proprietary technologies that separate it from the very few competitors in the renewable natural resources and biofuels marketplace. Alcar utilizes the most advanced biomass conversion technology to manufacture plastic and polymer raw materials and biofuels from non-food crop as main feedstock. They will provide us with additional complementary technologies that will further lower our manufacturing costs and provide further economies of scale. We will now be able to offer Ethanol, Ethylene Glycol, Propylene Glycol, and Ethyl Ester (biodiesel) synthesized from ethanol and vegetable oil in addition to our existing suite of products, which include 7-3-7 organic fertilizer and unique biofuels derived from soy and corn.
Alcar will work closely with USSE to design and implement the reactors in both Canada and the USA. Furthermore, USSE will ensure that existing contracts in place at Alcar totaling 160 million dollars over five years will be fulfilled. USSE expects to issue approximately 5 million restricted shares of USSE and 5 million restricted shares of its subsidiary company, Sustainable Power Corp. (SPC), at the closing of the definitive agreement expected within the next two weeks.
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