Evolution Resources Subsidiary Announces Appointment of President
14 Januar 2010 - 3:20PM
PR Newswire (US)
Former Technology Chief for International Paper to Manage Technical
Development Efforts DALLAS, Jan. 14 /PRNewswire-FirstCall/ --
Evolution Resources, Inc. (OTC Bulletin Board: EVLN) (the
"Company"), an advanced biofuels production company focused on the
production of cellulosic ethanol and biodiesel using the latest in
modern processes and technologies, today announced that it has
executed a consulting services agreement with Dr. Richard Phillips,
former senior vice president of technology for International Paper.
As part of the agreement, Dr. Phillips shall become president of
the Company's wholly owned subsidiary, Evolution Development, LLC,
which will hold intellectual property and manage the Company's
research and development efforts. Dr. Phillips will continue to be
Adjunct Professor of Wood and Paper Science and Executive in
Residence at North Carolina State University, Raleigh, NC. Before
retirement in 2005, Phillips spent 34 years with International
Paper, where he worked on a variety of manufacturing and technical
assignments. As Senior Vice President of Technology, Phillips had
responsibility for Manufacturing and Engineering Services, Research
and Development, Safety and Environment. In addition, Phillips was
Project Director for International Paper's Pulp and Paper mill and
eucalyptus plantation project in Brazil. He has authored more than
30 journal articles and holds 8 United States patents, with two new
patent applications filed related to the Wood Ethanol Research
Consortium ("WERC"), which was formed to provide a technical and
economic analysis of repurposing pulp and paper mills for the
production of ethanol from cellulosic sources. Evolution Resources
is a member of the WERC. The WERC, administered by North Carolina
State University through its Department of Wood and Paper Science,
College of Natural Resources, has drawn strong industrial support
over the past three years for the innovative concept of repurposing
uneconomical Kraft pulp mills at low capital and high efficiency to
profitable ethanol plants. Evolution Development, LLC was formed as
a wholly owned subsidiary of Evolution Resources to manage research
and development activities with regard to the production of
cellulosic ethanol, and to coordinate the efforts of the various
parties involved with the Company in evaluations of new and
existing cellulosic technologies. About Evolution Resources, Inc.
Evolution Resources, Inc. (OTCBB: EVLN) is a renewable energy
company focused on the production of cellulosic ethanol
transportation fuels. Presently, the company is pursuing certain
proposed projects that will leverage existing distressed assets and
infrastructure in the Southeast and Northwest. The Company's
management team shares key members with Evolution Fuels (Pink
Sheets: EVFN), which recently announced a dividend of EVLN stock to
its shareholders as detailed in a press release issued by Evolution
Fuels on November 27, 2009. For additional information on Evolution
Resources, please visit its corporate website:
http://www.evoresources.com/. Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within
the meaning of the federal securities laws. In this context,
forward-looking statements may address the Company's expected
future business and financial performance, and often contain words
such as "anticipates," "believes," "estimates," "expects,"
"intends," "plans," "seeks," "will," and other terms with similar
meaning. These forward-looking statements by their nature address
matters that are, to different degrees, uncertain. Although the
Company believes that the assumptions upon which its
forward-looking statements are based are reasonable, it can provide
no assurances that these assumptions will prove to be correct. In
connection with the "safe harbor" provisions of the federal
securities laws, including the Private Securities Litigation Reform
Act of 1995, important factors that, among others, could cause or
result in actual results and experience to differ materially from
the Company's anticipated results, projections, or other
expectations are disclosed in the Company's filings with the
Securities and Exchange Commission. All forward-looking statements
in this press release are expressly qualified by such cautionary
statements, risks, and uncertainties, and by reference to the
underlying assumptions. Investor Contact: CSIR Group, LLC Stacey
Yonkus, Principal 212-386-7081 DATASOURCE: Evolution Resources,
Inc. CONTACT: For Investors, Stacey Yonkus, Principal of CSIR
Group, LLC, +1-212-386-7081, , for Evolution Resources, Inc. Web
Site: http://www.evoresources.com/
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