Vega Biofuels Updates Shareholders on its Bio-coal Product and the Recent Entrance into the Biochar Market for Marijuana and Hemp Growers - KTUL.com - Tulsa, Oklahoma - News, Weather & Sports

Vega Biofuels Updates Shareholders on its Bio-coal Product and the Recent Entrance into the Biochar Market for Marijuana and Hemp Growers

Posted: Updated:

NORCROSS, GA / ACCESSWIRE / MARCH 7, 2014 / VEGA BIOFUELS, INC. (Pink Sheets VGPR) provides the following update to its shareholders.

I first want to thank you for your continued support while we’ve been growing our business. I also want to update you on the projects that we are working on and how it will impact the implementation of our Business Plan and drive shareholder value.

The most exciting news was announced yesterday. The joint venture project to build the torrefaction plant in Allendale, SC is the single largest step the Company has taken to date. The joint venture that we were able to put together allows us to complete the manufacturing plant much sooner than if we were doing it on our own. We are also trying to surround ourselves with industry experts that can provide valuable insight into our business as we move forward. The JV does just that.

When completed, the plant will produce various torrefied products from renewable sources. Our bio-coal product has been very well received by our international clients. We have provided samples to our clients for testing and those tests were successful and are leading to firm orders.

In addition to producing bio-coal, we recently announced that we have expanding our business model to include the production of a product called biochar to be marketed to growers in the burgeoning Marijuana and Hemp industries. The legal marijuana market in the U.S. is expected to grow from $1.4 billion in 2013 to $2.3 billion in 2014 and reach $10.2 billion by 2018. We are now positioned to capitalize on this explosion by marketing our biochar product to growers throughout the country. I will be in Colorado next week and Washington the first week of April meeting with growers to discuss their needs and how we can provide them with a biochar that will increase the quality of their product. Biochar is a product that is specially designed for a specific application. For instance, a grower in Washington may require a completely different composition than a grower in Colorado. Soil testing must be done before the biochar is manufactured. There is no one size fits all for biochar. This is an area that we plan on spending a lot of time and resources on in the coming months. I will keep you updated as new developments arise.

I also want to address information that was posted on the State of Wyoming’s website concerning Vega Biofuels’ name change and share structure. That information was in error and we are in the process of having it corrected.

In the coming days, we will provide an update on orders for our products, funding, and the status of our plant construction.

It’s a very exciting time for the Company and I want to personally thank our shareholders for their continued support as we grow our business. Our pledge to you is that we will keep you informed of the status of our projects and we will do everything in our power to move the Company forward and implement our Business Plan in order to provide increased shareholder value.

Thank you for your interest in Vega Biofuels.

Michael K. Molen
Chairman/CEO

 

Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “forecast,” “plan,” “project,” “intend,” “expect,” “should,” “would,” and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company’s actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.

CONTACT:
Vega Biofuels, Inc.
800-481-0186
info@vegabiofuels.com
http://www.vegabiofuels.com/

 

SOURCE: Vega Biofuels, Inc.

ReleaseID: 412816

  • NewsMore>>

  • A New Approach To Neglected Lots

    A New Approach To Neglected Lots

    "It's a black and white issue, or in this case, green and yellow. "It's terrible," said Danley Clow, "it is just unbelievable the way they let it go."He has a gorgeous yard himself, and spends a couple of days a week keeping it in pristine condition. But across the street..."This is just pitiful," he said.It is a tiny strip of land, that's changed hands time and again. The last time at county auction. The new owner says Mr. Clow, has yet to mow it, and it got very overgrown before someone cal...More >>
    "It's a black and white issue, or in this case, green and yellow. "It's terrible," said Danley Clow, "it is just unbelievable the way they let it go."He has a gorgeous yard himself, and spends a couple of days a week keeping it in pristine condition. But across the street..."This is just pitiful," he said.It is a tiny strip of land, that's changed hands time and again. The last time at county auction. The new owner says Mr. Clow, has yet to mow it, and it got very overgrown before someone cal...More >>
  • Investigation Continues After Mother, Son Found Dead in Midtown Home

    Investigation Continues After Mother, Son Found Dead in Midtown Home

    Investigators stated that both individuals were found with fatal shotgun wounds. No signs of a struggle were reported inside the residence, according to a statement from the Tulsa Police Department.More >>
    Investigators stated that both individuals were found with fatal shotgun wounds. No signs of a struggle were reported inside the residence, according to a statement from the Tulsa Police Department.
    More >>
  • True Love Never Changes

    True Love Never Changes

    Life can sometimes change you as dramatically as an aluminum can in a crusher. It was roughly 60 years ago when George Mercer lost his arms in an industrial accident.George recounted that day with his co-worker, saying "And so he started it back up. Raised it up off of me and I come up with this hand this arm hanging straight down, this one down. A little bit of skin a holding them on."He was undoubtedly different, and yet still the same, when just a week later he called out to his wife Claud...More >>
    Life can sometimes change you as dramatically as an aluminum can in a crusher. It was roughly 60 years ago when George Mercer lost his arms in an industrial accident.George recounted that day with his co-worker, saying "And so he started it back up. Raised it up off of me and I come up with this hand this arm hanging straight down, this one down. A little bit of skin a holding them on."He was undoubtedly different, and yet still the same, when just a week later he called out to his wife Claud...More >>
Powered by WorldNow

P.O. Box 8 Tulsa, OK 74101-0008

Powered by WorldNow

All content © Copyright 2000 - 2014 Worldnow and KTUL. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.