CHEYENNE, Wyo., March 27, 2008 (PRIME NEWSWIRE) -- Amelot Holdings, Inc. (Pink Sheets:AMHD) and Three Rivers Biofuel (TRB), LLC are happy to announce that they have signed a letter of intent for Amelot Holdings Inc. to acquire TRB. The initial agreement came when Mr. Aziz Hirji, President and CEO of Amelot Holdings Inc. and Mr. Forrest F. "Bud" Stacy, President and CEO of TRB, met on March 19th in Atlanta.
"Bud Stacy is the only man for this job," said Aziz Hirji. "Bud's track record of designing, constructing, and operating large scale energy plants speaks for itself. He took Olgethorpe Power and turned it into a Fortune 500 top 50 utilities company. He is just the kind of person we need and want at Amelot to build our first class Jatropha Biodiesel Plants in the U.S. and around the world."
The acquisition of TRB will allow Amelot to construct a state of the art Jatropha biodiesel facility with a full capacity that will reach 100 million gallons a year when fully upgraded. TRB has the rights to a 20 acre parcel where Construction of Phase I will be a 5 million gallon processing facility which will be built on a 2000 acre industrial park in Burnsville Mississippi; additionally, TRB has the option to acquire an additional 20 acre parcel for future growth and expansion. Currently, soy-based biodiesel trades for $5.01 per gallon.
"The acquisition of Three River's Biofuel LLC by Amelot Holdings Inc will give us access to quality feedstock," said Forrest F. "Bud" Stacy. "We felt that Amelot's strengths matched very well with our expertise in the designing, development, and management of biodiesel facilities. This is the perfect fit and it is a win-win situation."
The Three River's site has access to merchant shipping, trucking, and rail which will allow accessibility and low cost shipping options for incoming Jatropha feedstock and shipping refined biodiesel. The state of the art biodiesel plant will be fully scalable and will grow as Amelot's Jatropha plantations mature. This will provide a significant cost savings to Amelot, TRB, and the shareholders.
Amelot will continue to update shareholders as events warrant in Burnsville Mississippi.
About Amelot Holdings, Inc.:
Amelot Holdings, Inc. (http://www.amelotholdings.com), a publicly traded company, is a diversified holding company that has identified Biodiesel as a $20 billion emerging market. Amelot plans to have a significant market share in growing low cost feedstocks to supply the growing demand for biodiesel, to reduce energy dependency of fossil fuels, to help reduce the US dependency on foreign oil supplies and reduce the impact of energy on our environment.
The Amelot Holdings, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2149
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.