BlueFire Ethanol Fuels Names Roger Petersen as New Board Member
IRVINE, Calif., July 21 /PRNewswire-FirstCall/ -- During their annual shareholder meeting on Thursday, July 15, BlueFire Ethanol Fuels, Inc. (OTC Bulletin Board: BFRE), a company focused on changing the world's transportation fuel paradigm through the production of renewable fuels from non-food cellulosic wastes, appointed Roger Petersen as a new Board Member.
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Petersen has a wealth of experience dealing with corporate mergers and acquisitions, development, finance, operations, and engineering/construction. Petersen previously served as the president of PPL Global, LLC, a company he helped create in 1995 and expanded to $3 billion in assets throughout the U.S., U.K., Portugal and Latin America, which generated over $900 million in revenue in just seven years. PPL Global is a subsidiary of PPL Corporation, a Fortune 500 company with electric and gas distribution, electric generation, and power marketing. Most recently, Petersen served as the President and CEO of Montana Horizons, LLC, a company in which he founded to support utility mergers and acquisitions, and energy development projects. There he provided advisory services that resulted in a multi-billion dollar electric utility acquisition.
"BlueFire has great potential to provide an array of renewable energy sources to the fuel market. I'm very excited about becoming a member of the board and look forward to helping the company move forward and contributing to the strategic vision and growth of BlueFire Ethanol," says Roger Petersen.
"We are extremely pleased that Roger Petersen has agreed to join our team," says Arnold Klann, CEO of BlueFire Ethanol. "His expertise and 20 plus years of experience will serve as a valuable asset to our company as we advance into the next stages of production."
BlueFire is currently in the process of developing two cellulosic ethanol facilities in Lancaster, CA and Fulton, MS. The fully-permitted and shovel-ready Lancaster, CA facility, BlueFire's first U.S. commercial plant, will use post-sorted cellulosic wastes diverted from Southern California's landfills to produce approximately 3.9 million gallons of fuel-grade ethanol per year. BlueFire is in the detailed engineering phase for its second commercial plant in Fulton, MS, which will produce approximately 19 million gallons of ethanol per year from woody biomass, mill residue, and other cellulosic waste. These two planned facilities will create more than 1,000 construction jobs and, once in operation, more than 100 new operations and maintenance jobs. This is in addition to the hundreds of jobs created or maintained at equipment vendors and suppliers.
BlueFire recently announced that the Department of Energy has determined that the company has met the requirements necessary for Phase I of the application process and that the company has been invited to continue on to Phase II for the financing of their Fulton, MS Project.
About BlueFire Ethanol Fuels
BlueFire Ethanol Fuels, Inc. was established to deploy a commercially ready, patented and proven Concentrated Acid Hydrolysis Technology Process for the profitable conversion of cellulosic waste materials ("Green Waste") to ethanol, a viable alternative to gasoline. BlueFire is the only cellulose-to-ethanol company worldwide with demonstrated production of ethanol from urban trash (post-sorted MSW), rice and wheat straws, wood waste and other agricultural residues.
BlueFire is one of four companies awarded funding from the U.S. Department of Energy under the Energy Policy Act of 2005 to construct cellulosic biorefinery production facilities. BlueFire's biorefineries will be located near markets with high demand for ethanol and will use locally available biomass. This should dramatically reduce delivery costs and increase biofuel supplies, while providing a unique waste processing technology to help America's cities better manage the increasing problem of overflowing landfills. For more information, please visit www.BlueFireEthanol.com.
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Forward-Looking Statements
Statements about BlueFire Ethanol, Inc.'s expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. BlueFire's actual results could differ materially from expected results. BlueFire undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release; BlueFire will appropriately inform the public.
This press release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). BlueFire Ethanol, Inc. claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms "may," "believes," "projects," "expects," or "anticipates," and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to: our successful development and deployment of ethanol production facility or facilities, impact of the company's expansion plan, and new business development success, future financial results, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from the expectations contained in any such forward-looking statements. These risks include, but are not limited to: failure to manage operating expenses or integrate new facilities and/or technologies, each of which could have a material impact on our business, our financial results, and the company's stock price. These risks and other factors are detailed in the Company's regular filings with the U.S. Securities and Exchange Commission. Most of these factors are difficult to predict accurately and are generally beyond the Company's control. Forward-looking statements speak only as to the date they are made and BlueFire Ethanol, Inc. does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
SOURCE BlueFire Ethanol Fuels, Inc.
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