Renewal Fuels, Inc. (OTCBB:RNWF), formerly known as Tech Laboratories (OTCBB:TLBT), a biofuels company supplying the nation’s growing need for energy independence, announced today that it has officially changed its corporate name to Renewal Fuels, Inc. As of today, August 1, 2007, the Company’s new ticker symbol on the Over the Counter Bulletin Board is now RNWF. The new Cusip number following the name change, ticker change and reverse split is 75971P 101.
Renewal Fuels has incorporated its new name from its recently acquired subsidiary by the same name. The Renewal Fuels subsidiary is an established producer of a portable biodiesel processor, the FuelMeister, which empowers consumers with the ability to produce their own fuel from waste material.
Renewal Fuels also announced the successful completion of a 1-for-15 reverse split, giving the Company a total of 27,138,459 shares of RNWF common stock outstanding. The split was a strategic decision designed to seek increased institutional ownership.
“We are very pleased to have finalized the change of our corporate name to Renewal Fuels with a new ticker symbol RNWF,” said John King, Chief Executive Officer of Renewal Fuels. “We believe this new name more accurately reflects our corporate mission and provides us an excellent brand identity in the burgeoning market for renewal energy.”
Tech Laboratories is seeking to roll up green technologies focused on generating biofuel from feed-stocks that do not negatively impact the nation’s food supply. Specific technologies currently being investigated allow production of biofuels from non-food sources including waste vegetable oil, feedstock that can be grown on set-aside land, inedible oils (such as jatropha and algae), wood waste, municipal solid waste and coal fines.
About Tech Laboratories
Tech Laboratories is an emerging greentech company closing the loop between modern consumerism and America’s insatiable demand for energy. The Company is establishing its position to provide sustainable solutions to the world’s $5 trillion addiction to oil consumption.
A key component of Tech Laboratories’ high-growth business model is the augmentation of core operations and assets through strategic partnerships and opportunistic acquisitions in the burgeoning biofuels industry. The Company’s management team and Board of Directors believes that increasing political and social responsiveness, combined with exciting developments in biofuel technology, has created an unprecedented environment for organic growth as well as growth through acquisitions.
The management of Tech Laboratories is establishing relationships with various biofuel entities with projects, products, and technologies at various stages of development. Each of these companies is in a business that meets Tech Labs' corporate mission. Tech Laboratories’ management is actively negotiating strategic relationships as a means to continue building shareholder value. To learn more visit www.tech-laboratories.com and www.renewalfuels.com.
For investor-specific information and resources, visit http://www.trilogy-capital.com/tcp/tech.
To view current stock quotes and news, visit http://www.trilogy-capital.com/tcp/tech/quote.html.
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, continued acceptance of the Company's products and services in the marketplace, competitive factors, dependence upon third-party vendors, availability of capital 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.
Contacts:
Trilogy Capital Partners
Ryon Harms,
800-592-6067
ryon@trilogy-capital.com
