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LICH LiveChain Inc (PK)

0.0024
0.00 (0.00%)
29 Nov 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
LiveChain Inc (PK) USOTC:LICH OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.0024 0.0025 0.0069 0.00 18:00:03

Empire Oil Refineries Corp announces formation of Clean Fuels Division

14/09/2011 2:00pm

Business Wire


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Arshad Shah, President and CEO of Empire Oil Refineries Corp. (OTC-PINK: EORZ), announces today on behalf of the Board of Directors of the Company, that the company Empire Oil Refineries Corp. (EORZ) announces the formation of Empire Clean Fuels Division.

Empire Oil Refineries Corp today announced the formation of a Clean Fuels Division. According to the division President, Marc Schechtman, “We will focus on the development and funding of clean energy production, beginning with farm-based manure-to-methane-to-electricity. The EPA and USDA have stated that more than 8,000 US farms have large enough herds to justify this technology. Empire Clean Fuels is working with other energy companies to organize adequate funding required to capitalize on the 8,000 facilities.” An investment bank has offered their services to organize the funding, according to Marc Schechtmen.

The 8,000 manure-methane-electricity facilities can create as many as 162,000 new jobs, many in the three-year construction period and many permanent jobs in operations. In addition, Empire is also in contact with fresh produce growers who can build greenhouses next to the methane facilities. Every farm energy system will have excess heat and carbon dioxide that can be used to significantly reduce the cost of growing fresh produce throughout the year in various climates. The greenhouse operations can more than double the number of permanent jobs created.

Empire Oil is also reviewing options to issue a new class of shares to capitalize a portion of the 8,000 clean energy facilities. More information will be made available this month.

FORWARD-LOOKING STATEMENTS

The statements contained herein which are not historical are forward-looking statements that are subject to risk and uncertainties that could cause actual results to differ materially from those expressed, including but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's press releases.

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