SOURCE: BioCentric Energy Holdings, Inc.

BioCentric Energy Holdings, Inc.

November 02, 2009 06:00 ET

BioCentric Energy Announces Merger Agreement With Renewed World Energies

SAN JUAN CAPISTRANO, CA--(Marketwire - November 2, 2009) - BioCentric Energy Holdings, Inc. (PINKSHEETS: BEHL) today confirmed a merger agreement between BioCentric Energy Holdings, Inc. and Renewed World Energies, an established closed loop Photobioreactor manufacturer and ALGAE production facility based in Georgetown, South Carolina.

Dennis Fisher, CEO of BioCentric (BEHL), stated today, "After extensive talks, and comparative data exchanges between the two companies, it became apparent that major synergetic opportunities would evolve if both companies were to combine efforts to advance Photobioreactor closed loop technology and ALGAE reproductive systems with the advanced capability of producing Power in the form of electricity, passing directly in to the 'Grid' system."

Mr. Fisher further commented, "The basic agreement outlines the two companies will merge all assets, and BioCentric Energy Holdings, the publicly traded company, will be the surviving entity, BioCentric's name will be changed to a mutually agreeable new name, along with the filing of SEC Form 10 registration document to become a reporting entity along with a Form 15c-211 filing to enable the company to emerge as a fully reporting Bulletin Board company. The draft logistical plan for the facilities is, the Huntington Beach, California facility will be the designated Corporate Headquarters with the Research and Development arm located in Prague, Czech Republic and the Georgetown, South Carolina location will be the heavy engineering equipment manufacturing and ALGAE production unit of the consolidated companies."

Richard Armstrong, President & CEO of Renewed World Energies, stated, "With the combined resources of RWE's heavy engineering background and experience, along with BioCentric's scientific and marketing expertise, we at RWE strongly believe this can be only a win-win situation with limitless possibilities in the fields of closed loop reproductive equipment and ALGAE strain research and productivity, which we believe will ultimately lead to significant revenues and profitability for both the company and shareholders alike."

About Renewed World Energies:

RENEWED WORLD ENERGIES was formed to provide integrated, technically sophisticated solutions to satisfy the markets for clean burning fossil fuel alternatives, reduction or recycling CO2 emissions from combustion processes, and to address domestic energy security concerns. RWE was established by two engineers with 55+ years of experience in designing, developing and managing the implementation of industrial process control solutions. The company is founded on the belief that through robust process control renewable energy alternatives can be produced rapidly, economically and reliably. In 2006, Tim Tompkins, a chemical engineer, and Richard Armstrong, an electrical engineer, began to think about the methods, processes and equipment required to produce commercially viable quantities of alternative fuels used for vehicular transportation. They also recognized that it must be done in a clean, economical manner. There early efforts lead to the formation of RENEWED WORLD ENERGIES in 2008 -- the company to produce and sell the first commercially available automated microalgae photo-bioreactors for the production of energy feedstocks.

RWE offers commercial large-scale bioreactor systems, which include the panels, plumbing, process control technology, pumps, heat exchangers and sensors. These systems can be deployed to grow and process algae for fuel or intermediates; assembled as test platforms for examination of mass algae culture; deployed as incubators for developing large volume algae culture to inoculate open pond systems; or, included as components of advanced carbon capture pollution control solutions. RWE's advanced industrial grade solutions are available now.

When combined with harvesting equipment, the photo-bioreactors form the basis of the System's competitive advantage in producing high quality feedstock able to be converted to fuel. The fuel can be used directly or after gasification by turbines to generate electricity whichever is most economical at the time.

BioCentric Energy today confirmed the Shareholder Conference call scheduled for Friday, November 6th, 2009 at 9:00am PST. The conference call dial and questionnaire information will be available on the company's website on Wednesday, November 4th, or by e-mail from:

Danielle Petty was recently appointed Vice President of Investor Relations for the consolidated companies and will be providing updated information via the company's websites and by way of public announcements.

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About BioCentric Energy Holdings.?BioCentric Energy Holdings, Inc. is dedicated to the development of new technologies as well as acquiring and fostering companies with innovative technologies designed to provide unique and effective green energy solutions for the 21st century. Along with the cultivation of important relationships and partnerships with synergistic entities, BioCentric Energy has devoted substantial time and effort in research and development in order to bring a range of innovative green alternatives to the marketplace.

Safe Harbor Statement: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as BEHL or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements.

Contact Information

  • Investor Relations:
    Dale Beaton