ATCO, N.J., April 29, 2013 /PRNewswire/ -- US Fuel
Corporation, (OTC: USFF), announced today a joint venture with
Renewed World Energies, Inc. (RWE), a majority owned subsidiary of
Aventura Equities, Inc. (OTC pink: AVNE), to integrate RWE's patent
pending Photo bioreactor into US Fuel's coal-to-liquid (CTL) plants
planned for Muhlenberg County and
Perry County, Kentucky.
US Fuel's focus is engineering a proprietary template for
constructing facilities capable of converting 300 tons of coal into
approximately 525 barrels of synthetic liquid fuel a day.
This proprietary US Fuel CTL process will include the ability to
capture the carbon dioxide produced by the CTL process. Once
captured, the carbon dioxide will be put to use to grow algae using
the RWE Photo bioreactor.
"Ensuring that our facilities are environmentally friendly is
critical to our business plan. With this joint venture, US
Fuel will ensure that nearly all of the carbon dioxide generated
during the CTL process is put to a good use, rather than emitted,"
said Harry Bagot, US Fuel President
and CEO.
RWE is an industry leader, having created the world's first
commercially viable, fully automated closed algae system capable of
manufacturing algae oil. The RWE system circulates the water,
nutrients, and CO2 required to grow the algae through the tank and
panels, with the entire process continuously monitored and the
growth environment automatically adjusted to maximize output.
When the algae are ready to harvest, an automated process sends
the algae through multiple screening processes for final delivery
to an oil processing plant. Algae products range from
synthetic bio-fuel, algae cake for livestock feed, to raw materials
used in the pharmaceutical, natural food and cosmetics
industries.
The growth and cultivation of algae not only draws greenhouse
gases out of the atmosphere and protects the environment, it will
generate new revenue streams that serve to improve the bottom line
profitability of US Fuel CTL operations.
According to Dr. Bruce R. Pratt,
Director, Eastern Kentucky University
Center for Renewable and Alternative Fuel
Technologies (EKU
CRAFT), "The process of growing algae and converting it to
fuel is really just replicating what Mother Nature does in creating
petroleum, except it does not take millions of years.
Capturing the carbon dioxide from the CTL process reduces
greenhouse gas emissions; using that carbon dioxide to create more
fuel gives the process a double use for the gas."
As part of this joint venture, upon the commencement of
construction of the first US Fuel CTL facility in Kentucky, RWE will locate its component
manufacturing and spare parts distribution center in Kentucky, to co-locate with a planned US Fuel
facility. The RWE system is designed for mass production, low
cost, and easy assembly and will bring additional jobs to
Kentucky while supporting the
infrastructure for the new coal-to-liquids industry there.
"The RWE – US Fuel joint venture provides an opportunity for a
truly large scale commercial application of our proven algae
systems. We are excited about locating operations in
Kentucky, creating local jobs as
part of profitable algae operations and the opportunities to
continue research and process improvement in coordination with
institutions such as EKU CRAFT,"
stated Richard Armstrong, President
of RWE.
About US Fuel Corporation
US Fuel Corporation (OTC: USFF) designs, builds, owns and
operates scalable facilities that will convert coal into high
quality liquid fuels, including ultralow sulfur diesel and jet
fuel. www.usfuelcorporation.com
About Renewed World Energies
Renewed World Energies is the developer of a proprietary
technology for use in the manufacturing of algae oil and a lead
supplier of products and services associated with such
manufacturing and the sale of products derived from algae
oil. www.rwenergies.com
Disclaimer: Forward Looking Statements
This release contains statements relating to future results
which are forward-looking statements. These statements are not
historical facts and are not guaranteed, but instead represent only
the good faith belief of US Fuel management as of the date of this
release. Future events are by their nature inherently
uncertain and outside of US Fuel's control. It is possible that US
Fuel's actual results and financial condition may differ, possibly
materially, from the anticipated results and financial condition
indicated in these forward-looking statements.
Forward-looking statements in this release are made pursuant to the
safe harbor provisions of securities laws in force as of the
date of this release. US Fuel does do not undertake any
obligation to publicly update or correct any forward-looking
statements to reflect events or circumstances that subsequently
occur or of which we hereafter become aware.
Contact at US Fuel:
Paul F. Adams
Chief Operating Officer
856 753 1046
padams@usfuelcorporation.com
www.USFuelCorporation.com
Contact at Renewed World Energies
Richard Armstrong
President
803-230-8487
ricka@rwenergies.com
www.rwenergies.com
SOURCE US Fuel Corporation