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NACF, DC Biofuels Sign Letter of Intent

Press Release Source: National Clean Fuels, Inc. On Wednesday December 8, 2010, 9:15 am EST

HOUSTON--(BUSINESS WIRE)-- National Clean Fuels, Inc. (PinkSheets:NACF.pk - News) announced today that it signed a letter of intent to enter into a joint venture agreement with DC Biofuels, LLC of Washington, D.C.

According to the letter, the two companies agree to use their best efforts to complete a definitive agreement within 20 days. DC Biofuels, LLC (DCBF) is currently developing a biodiesel facility in Washington, D.C. capable of producing five million gallons of high-quality biodiesel(methyl ester) per year, enough for 25 million gallons of B20 fuel. The facility will process waste oils and fats from local restaurants, residents, institutions and animal fats.

In addition to corporate fleet customers, DCBF hopes to sell biodiesel to municipal fleets of one or more major metropolitan areas. If a joint venture agreement with DCBF is reached, National Clean Fuels would provide funding and expertise for a fleet demonstration of DCBF’s biodiesel for use with selected municipal fleet vehicles. NACF would also then participate in the expected long-term operations of a potential final contract between DCBF and one or more metropolitan areas.

“We envision this biodiesel plant as a major provider of renewable, alternative fuel in the Mid-Atlantic region,” said NACF President and Chairman Maurice Stone. “The effort to provide a fleet demonstration of B20 alternative fuel is proceeding smoothly, and we look forward to signing a definitive agreement with DC Biofuels very soon.”

DC Biofuels, LLC is a globally oriented company focused on the conversion of waste biomass products—principally oils, fats and rendered animal by-products—into biodiesel products for transportation, home heating, industrial and power generation applications.

National Clean Fuels aggressively develops alternative energy projects and profitable clientele relationships in a sector that is growing to compete in the energy industry, which contains Valero Energy Corporation (NYSE:VLO - News), Chesapeake Energy (NYSE:CHK - News), Suncor Energy Inc. (NYSE:SU - News) and Linn Energy LLC (NASDAQ:LINE - News). NACF signed an agreement to help fund and develop the Washington, D.C. biodiesel project in June.