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U.S. Sustainable Energy Corp. to Acquire Controlling Interest in Alcar Chemicals Group, Inc.
Three Biomass Conversion Facilities Planned for Canada and a Plant With 275 Reactors Planned in USA
NATCHEZ, MS -- (MARKET WIRE) -- 12/06/06 -- U.S. Sustainable Energy Corp. (PINKSHEETS: USSE) announced today that it has signed a memorandum of understanding to acquire a controlling interest in Alcar Chemicals Group, Inc. (PINKSHEETS: ACMG) (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.
About Alcar Chemicals Group
The Alcar Chemicals Group represents a significant market opportunity due to a serious worldwide supply shortage of raw materials for polymers as well as an increased requirement for ethanol and biodiesel. ACMG has been concentrating on innovative methods for biomass (forestry waste, agricultural waste and non-food crop) valorisation for the past decade, specifically petroleum-independent fuel and plastics resin production. Its proprietary technology represents today's most economical and advanced manufacturing process for plastic raw materials, ethanol and biodiesel, allowing production at cost savings of up to 40% when compared to current production methods.
About U.S. Sustainable Energy
USSEC holds patent pending technology for a new breakthrough biofuel and carbon based fertilizer. USSEC has successfully demonstrated the most cost effective method of producing biofuel estimated at $.50/gallon according to exhaustive studies and independent Lab confirmation. The company has developed the process, units and catalyst that will transform agricultural biomass into biofuel and fertilizer. This technology offers a solution for foreign oil dependence, balancing industrial and agricultural concerns with environmental issues and stabilizing and eventually reversing global greenhouse gas emissions. USSEC's research and development has successfully demonstrated the core technology in its fully functional facility located in Port Gibson, MS. The company is currently pursuing fully scalable implementation and deployment at further locations. Unlike other biomass gasification, the USSEC process can operate at a variety of scale, converting even waste biomass into fuel and fertilizer. The fuel produced will ultimately be more valuable than ethanol or methanol, and the USSEC process can convert biomass materials at an efficiency that cannot be matched by currently planned operations. In addition, unlike virtually all other approaches for biomass to energy, which deplete soil nutrients, the USSEC process restores and enhances soil mineral and carbon content. As a direct result of this revolutionary approach to integrated energy and fertilizer production from biomass, the USSEC process effectively removes Greenhouse Gases from the atmosphere, and can do so profitably before the value of Green Certificates and Carbon Credits are considered.
-------------------- "Man who excels at putting worm on hook is Master Baiter"
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posted
just wait 1 or 2 weeks when everything is signed, will go up nicely, prolly have a steady increase until then, nice money changing hands..
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MONTREAL -- (MARKET WIRE) -- 12/08/06 -- The following is a short update from Alexander P. Cavasin, CEO of Alcar Chemicals Group Inc. (PINKSHEETS: ACMG).
With yesterday's announcement on the MOU I signed you have been able to see that there are some major developments taking place. Although I am not in the position to reveal more details at the moment, I wanted to take a few minutes to reassure our valued shareholders that the envisioned agreement does represent an important milestone as it ensures the completion of the required financing without affecting operations. ACMG will remain a separate entity and its stock will remain in effect.
I promise you an update with more details next Wednesday.
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Alcar Chemicals Group Announces MOU for Completion of Financing for First Plant and US Expansion The following is an announcement from Alexander P. Cavasin, CEO of Alcar Chemicals Group Inc. (PINKSHEETS: ACMG), on the signed MOU for completion of the financing of its first plant in Canada as well as the planned expansion into the US.
With the planned transaction ACMG will secure the financing for the first biomass conversion facility in Quebec, which will operate three reactors to fill the $160M contracts on hand, as well as an accelerated expansion into the US market. As announced last week, Dr. Cavasin, CEO of ACMG, signed a memorandum of understanding outlining an agreement for the acquisition of 60% of ACMG in a transaction with an overall worth in the vicinity of $300M. The closing of a definite agreement is foreseen within the next week and the details of the agreement will be provided once finalized. The agreement will not affect operations as ACMG will remain a separate entity and its stock will remain in effect; it does, however, represent an important milestone by guaranteeing the financing required for the first facility in Canada and for the expansion into the US market with a sizeable facility planned in Natchez, MS.
"The synergy created by combining the complementary technologies would ensure tremendous economical advantages to what could become the most advanced biomass conversion entity on the planet. I am very pleased with this preliminary milestone as a definite agreement will guarantee the financial backup required for the plant in Canada but also an accelerated timetable for our expansion plans in the US, with an initial production facility of 360M Gallons per annum in Natchez, planned to begin operations by the summer of 2008," said Dr. Cavasin. "The amounts of forestry and agricultural waste available in Natchez are simply mind-boggling and the new expansion project will put it to good use. Together, we will change the fuel industry as we know it forever, one waste pile at a time, improving the energy sector worldwide and with it, the environment our children will inherit from us," further added Dr. Cavasin.
"After having spent several weeks working on this agreement, I can only point out that selling controlling interest may be the most important, but also the best possible decision I ever made. This is a first step towards revolutionizing the fuel industry while providing a truly green, zero waste operation, for the benefit of the project, our shareholders and the environment," answered Dr. Cavasin when asked how he felt about handing control of the project.
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bobcat88... Dude you need to give USSE call, because the Dec. 6 2006 PR you are referring to didn't go through, I called them and USSE has decided that they "partnership, wasn't for them..."
U.S. Sustainable Energy Corporation 110 L.E. Barry Road Natchez, MS 39120
Phone: 601 446-8007 Fax: 601 446-8027
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