subject: ALL Fuels and Energy Company (OTCBB: AFSE) $2M (MarketCap) Trading at +52% [print this page] ALL Fuels and Energy Company (OTCBB: AFSE) $2M (MarketCap) Trading at +52%
The ethanol industry is currently experiencing a high level of stress as the industry attempts to stabilize itself in the wake of the tumult caused by the recent period of historically-high oil prices, during the first half of 2008, immediately followed by a sudden drop from those historically-high prices. In the current climate, ALL Fuels and Energy Company (OTCBB: AFSE) believes there exists numerous opportunities to leverage their ethanol expertise to become an active participant in the ethanol production industry. ALL Fuels is a development-stage ethanol company organized to operate as an ethanol producer, focusing primarily on the production and sale of alternative fuels, cost saving efficiencies to the biofuels industry, and improved channels to market. The company's overall goal is to become a significant producer of ethanol and its co-products in the United States, that is, to become a producer of at least 500 million gallons of ethanol annually. It intends to accomplish this goal through (1) acquisition of existing ethanol production facilities and (2) construction of new ethanol production facilities. ALL Fuels and Energy is currently trading at $0.038, up $0.013 or 52% for the day.
For the past year, ALL Fuels has been pursuing an agreement with a leading research institution for the development and commercialization of an ethanol "super" enzyme, producing cellulosic ethanol with a theoretical savings of up to 50% reduction in ethanol production costs. Ethanol produced by such a super enzyme would be manufactured from sustainable non-food biomass and surplus waste products, such as wood chips, household garbage and sugarcane waste, which are abundantly available domestically and internationally. One of the key benefits would be the elimination of the cost of the more traditional component ethanol feed-stock, corn.
On Thursday, May 27th, ALL Fuels announced that it signed a letter of intent to acquire an operating ethanol plant located in the Midwest United States. The company also indicated that the definitive purchase agreement is to be negotiated within its current exclusivity period, which extends through the middle of July 2010, with a closing to be held approximately 30 days after the execution of the definitive agreement.
"We are extremely excited to have the opportunity to acquire this state-of-the-art ethanol plant that is part of such a high quality organization," said Dean Sukowatey, CEO and President of ALL Fuels. "Our valuable industry partners who are important in our finalizing the necessary financing continue to support us, and we look forward to a successful conclusion to this transaction."
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