EarthFirst Technologies Announces Plans to Enter Global Biodiesel Industry
TAMPA, Fla.--Nov. 3, 2005--| Company Subsidiary, EarthFirst Americas, Launches Initiative Focused on Production and Distribution of BioFuels in US, Latin America, the Caribbean and the European Union |
EarthFirst Technologies, Incorporated (OTCBB:EFTI) ("EFTI" or "the Company") today announced a global initiative for the manufacture and distribution of renewable fuels (biodiesel) produced from soy, rapeseed and palm fruit. Led by EarthFirst Americas, Inc. (EFA), a wholly owned subsidiary of EFTI, the Company has organized an international consortium of businesses involved with commercial scale production of biodiesel. EFA will also arrange for the distribution of biofuels to customers in the United States, Latin America, the Caribbean and the European Union.
Biodiesel produced from soy, rapeseed and palm fruit is interchangeable with petroleum diesel. Cheap petroleum has been the primary reason that biofuels have not been more fully developed. Utilizing proprietary thermal distillation technologies, EarthFirst has demonstrated unique abilities with its Catalytic Activated Vacuum Distillation (CAVD) unit to extract oil from organic feedstock (i.e. soy, rapeseed and palm fruit) at much lower cost and greater production efficiency levels than is currently commercially available. These innovations, together with the rising cost of petroleum and government support for the development of alternative fuels, have combined to create a business opportunity for EFTI in the production and distribution of biodiesel. The early shipments of biodiesel are utilizing conventional refining and production techniques and do not include the future expected cost savings from techniques that EFTI has introduced.
EFA is importing the first shipment of biodiesel into the Port of Tampa. EFA's partner in the development of biodiesel is LaFabril of Manta Ecuador, one of the regions largest manufacturers of oils from palm, soy and rapeseed. The first shipment will arrive in Tampa in early November, 2005.
EarthFirst formed EFA to identify and pursue the commercial deployment of its technology in the international marketplace. Recently, EFA teamed with Muller Group International (MGI), a consulting group based in Tampa, Florida that specializes in international business development. MGI is working closely with EFTI and EFA to coordinate and implement the development of projects initially in Latin America and the Caribbean, and then expanding into the European markets. Jaime Jurado, current Vice Chairman of EFTI, has been appointed President of EFA.
Leon Toups, Chief Executive Officer of EarthFirst Technologies, stated, "The emergence of EFA positions EFTI as a large scale producer and distributor of renewable fuels. In the near future, we will provide more details related to activities currently being undertaken to position EFA as a major player in the biodiesel industry."
About EarthFirst Technologies, Incorporated
EarthFirst Technologies, http://www.earthfirsttech.com, is a specialized holding company engaged in researching, developing and commercializing technologies for the production of alternative fuel sources and the destruction and/or remediation of liquid and solid wastes, and in supplying electrical contracting services to residential, commercial and government customers internationally. Through its subsidiary World Environmental Solutions Company (WESCO), EarthFirst markets solid waste remediation plants utilizing a proprietary Catalytic Activated Distillation (CAVD) process, which is a superior technology developed by EarthFirst to recycle rubber tires and other waste by heating the material without burning it. Through its subsidiary Electric Machinery Enterprises, Inc., http://www.e-m-e.com, the Company provides electrical contracting services, including engineering, both as a prime contractor and as a subcontractor, electrical support for industrial and commercial buildings, power generation stations, and water and sewage plants in the US and abroad.