SOURCE: Blue Diamond Ventures, Inc.

August 03, 2006 08:30 ET

Former INEOS Executive Joins Blue Diamond Ventures to Develop Biofuels Trading Division

HOUSTON, TX -- (MARKET WIRE) -- August 3, 2006 -- Blue Diamond Ventures, Inc., (PINKSHEETS: BLDV) announced today that Robert Luiten, a former chief operating officer and vice president of a division of one of the largest ethanol producing companies in Europe and the world's third largest chemical company, with sales of about EUR 33 billion, has joined the company in a consulting capacity and will assist in developing the company's biofuels trading division.

"I very much look forward to providing my expertise and serving as a biofuels trading partner with Blue Diamond Ventures, Inc., until the company begins its own production," said Luiten, now CEO of Zenergy International, and formerly chief operating officer of INEOS Phenol, a division of INEOS Americas LLC.

Luiten, who was responsible for the daily operations of the $800 million division, recently led and concluded an acquisition of a $400 million materials plant for INEOS. Luiten was also credited with expanding the business by more than 30 percent, while reducing fixed cost (division wide) by 20 percent without downsizing.

Luiten, who holds a bachelor's degree in analytical chemistry and master's degree in organic chemistry, also served as board member and president for the INEOS US Investment Holding Company.

"We welcome Mr. Luiten's expertise," said Blue Diamond Ventures CEO John Quincey Moaning. "Our main objective is to increase shareholder value and quickly expand our industry presence."

Blue Diamond Ventures is currently in discussions with several biodiesel and ethanol companies about acquiring an equity position.

The company will soon provide an update about its biofuels initiatives in Central America and the Caribbean.

About Blue Diamond Ventures, Inc.: Blue Diamond Ventures, Inc. ( is an agriculture, biofuels and commercial development company with operations in Belize and the U.S. The company recently announced plans to break ground this year on a million dollar goat processing facility in Belize and aggressively market throughout the U.S., Central America and the Caribbean, the world's most eaten meat. Blue Diamond will utilize 3,000 acres in Belize for a goat ranch, research center and processing facility. Local farmers in Belize, under a cooperative agreement with Blue Diamond Ventures, will raise the goats and process them at the company's facilities. Blue Diamond's business plan includes ethanol production, tilapia and shrimp aqua farming and raising thousands of acres of soybeans. The company recently completed an audit to be listed on the NASDAQ Bulletin Board.


"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in Blue Diamond Ventures, Inc.'s filings with the Securities and Exchange Commission. These risks could cause Blue Diamond Ventures, Inc.'s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Blue Diamond Ventures, Inc.

Contact Information