Kreido Biofuels, Inc. (OTCBB:KRBF) and Foothills Bio-Energies, a North Carolina-based biodiesel manufacturing company, have announced today that they have entered into an agreement to incorporate Kreido’s STT® Biodiesel Processing Unit (BPU) into Foothill’s plant. Implementation of the STT® continuous process intensification system will add 1MMgpy capacity to Foothills’ present biodiesel production of 1MMpgy and planned capacity of 5MMgpy. The site will provide Kreido a facility to train personnel in system operations for three commercial scale plants scheduled to become operational by the end of 2008, as well as refine operating procedures and demonstrate the STT®’s ability to process various feedstocks. The Foothills plant is expected to be in production this summer.
“This pilot plant allows us to collect objective results and processing data that we can use to expand the promotion, commercialization and licensing of Kreido’s STT® technology,” states Phil Lichtenberger, Kreido Biofuels’ Senior Vice President. “By giving other biofuel producers the opportunity to view the seamless integration of our technology into an existing site, we set the stage to market Kreido’s process intensification capabilities.”
During the one year agreement, Kreido will receive a nominal quarterly lease payment for the BPU and have open access for Kreido personnel, business and financial partners, and potential licensees to observe its operation. In addition to establishing its own BPUs, Kreido plans to license its technology to national and international biofuel manufacturers with nameplate capacity in excess of 10MMgpy.
“We look forward to incorporating Kreido’s STT® technology into our expansion efforts,” states Randy Dellinger, Foothills Bio-Energies’ General Manager. “By employing this sustainable technology we will increase our current production and significantly increase our planned capacity, allowing us to provide our customers with a dependable, environmentally conscious fuel alternative. The STT® system is exciting technology and we anticipate working closely with Kreido Biofuels.”
About Kreido Biofuels
Kreido Biofuels is providing the world renewable energy through its proprietary process intensification technology - the STT® system. The Company’s manufacturing methods significantly improve the efficiency, quality, and process control of biodiesel production. To build a sustainable future, our goal is to provide the industry cutting edge technology that improves the manufacturing of biofuels. The Company’s senior management and Board have more than 50 years experience in the energy sector including designing, constructing, operating and managing petroleum refining, natural gas distribution, and chemical processing facilities. Kreido Biofuels also has established collaborations with university and government laboratories, including the U.S. Environmental Protection Agency (US EPA), in order to gain a leading position in the development of advanced chemical processes. Kreido Biofuels is based in Camarillo, California. STT is a registered USPTO trademark of Kreido Biofuels, all rights reserved. For more information about Kreido Biofuels, visit www.kreido.com.
About Foothills Bio-Energies
Foothills Bio-Energies’ was formed in February 2006 to pursue renewable, sustainable energy sources and to create economic development around these sources in smaller, economically challenged communities. The first project has been the renovation of an out of service chemical plant to produce ASTM D6751 specification biodiesel, a clean burning renewable fuel with many additional benefits over its petroleum counterpart. Production began in September of 2006. The biodiesel refinery is based upon a regional energy model, using feedstocks from the region in which it is located and providing finished fuel back into the same region.
