Alternative Fuels Americas Confirms 3.7 Million Gallons ($14+ Million) Pre-Sale Of Biodiesel

HOLLYWOOD, Fla., Nov. 7, 2013 /PRNewswire/ -- Alternative Fuels Americas, Inc. (AFAI), an advanced biofuels company, confirmed the extension of offtake agreements for the sale of over 3.7 million gallons of biodiesel, accounting for more than $14 million in potential revenues.

"We have secured these offtake agreements to ensure buyers of our oil as we progress toward production," commented CEO Craig Frank. "Although we have additional work to do before we can begin production, knowing we have buyers is expected to ease our transition. Bloomberg Biofuels cites the importance of off-take agreements and we intend to utilize them as we seek financing of our refineries."

"We are pleased our buyers constitute a diverse set of companies incorporating both transportation and industry," continued CEO Craig Frank. "Our impression is that we will be securing additional contracts as we progress and our production capacity becomes more apparent."

AFAI has signed 4 offtake agreements for (1) two million gallons, (2) one million gallons, (3) 571,000 gallons and (4) 190,000 gallons, respectively. All buyers are based in Costa Rica.

About Alternative Fuels Americas

AFAI (OTC-QB: AFAI)  is an alternative energy company pioneering a "seed to pump" vertically integrated biodiesel process and the development of above ground oil fields in Central America as part of its staged entry into a global market forecasted to exceed $500 billion by 2019.

For more information, visit http://www.alternativefuelsamericas.com

Forward Looking Statements

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

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SOURCE Alternative Fuels Americas, Inc.