NORCROSS, GA -- (Marketwire) -- 05/08/12 -- VEGA BIOFUELS, INC. (PINKSHEETS: VGPR) today announced plans for its 90,000 square foot manufacturing facility in Cordele, Georgia.
The South Georgia facility pictured here will be the new home of Vega Biofuels. Located adjacent to the new Cordele Inland Port, the 15 acre property will house the Company's bio-coal manufacturing plant as well as the Company's international headquarters.
'This is the ideal facility for our business,' stated Michael K. Molen, Chairman/CEO of Vega Biofuels. 'We have a few more details to complete before we can move in, but we are close enough now that we have a good idea of what we'll be able to accomplish with this facility. Our original design was to have one manufacturing line. This property provides tremendous growth capabilities. Our plans now call for three manufacturing lines to be constructed initially and two more lines installed during our second year. The facility will accommodate a total of nine manufacturing lines. We've had a tremendous response from all over the world concerning our bio-coal product and this facility will allow us to more than double our volume for year one in order to meet the demand. We have more pictures of the plant posted on our website and plan to produce a time lapse video as the equipment is being installed. We'll post it on our site as well once it's completed.'
The Company will work with engineering firm, Hunt, Guillot & Associates on the construction, project management, and equipment installation for the new plant. When completed, the facility will produce green energy bio-coal from timber waste for use in existing coal-fired power plants around the world.
Bio-coal is made from a process called 'torrefaction.' Torrefaction is a partial carbonization process that takes place at temperatures between 475 - 575º in a low temperature environment which makes the physical and energetic properties of the biomass much more comparable to traditional coal. The biomass is then compressed into briquettes to be sold to the end user. Torrefaction has the added benefit of reducing or eliminating undesirable volatiles, such as nitrous oxides and sulfur dioxides and is considered carbon neutral to the environment.
For more information about Vega Biofuels: www.vegabiofuels.com
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words 'forecast,' 'plan,' 'project,' 'intend,' 'expect,' 'should,' 'would,' and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.
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Vega Biofuels, Inc.