SOURCE: Novo Energies Corporation

Novo Energies Corporation

December 10, 2009 00:00 ET

Novo Energies Corporation Provides Shareholder Update on Its Commitment and Progress to Enter the Alternative Energy Sector in Colorado

NEW YORK, NY--(Marketwire - December 10, 2009) - Novo Energies Corporation (OTCBB: NVNC) ("Novo" or the "Company"), an alternative energy company, is pleased to provide its latest shareholder update, which includes Company news, industry related developments and progress on its Colorado plant.

Corporate Update:

We continue implementing our plans to construct our first tire-to-fuel plant in the Denver, Colorado area and expect to have it fully operational during the second quarter of 2010. We are now finalizing the location, financing, permits and authorizations and hiring of operational employees for the plant as well as bringing on board additional professionals within the local energy sector. Novo, based on its novel technology, anticipates being able to generate approximately 1,000,000 gallons of fuel or fuel additives during the first year of the operation of its plant and 2,000,000 gallons per year thereafter. As a result of the expected additional tire residual materials, Novo intends to also produce approximately 3,000 Metric tons of Carbon Black and 900 Metric tons of steel during the first year of operation and estimates that it will generate a minimum of 25,000 carbon credits per year.

About Colorado:

The Government of Colorado offers an ideal environment for Novo to construct a renewable energy facility derived from source used tires or plastics. On February 27, 2009, the Governor of Colorado, Bill Ritter, Jr., through a letter written to United States Secretary of Energy, The Honorable Steven Chu, further committed Colorado's progress to energy efficiency and renewable energy in connection with the state's share of a portion of the $3.1 Billion funding available for the State Energy Program (SEP) under the American Recovery and Renewable Act of 2009. (For a copy of Governor Bill Ritter, Jr.'s letter, please visit our website

In addition, the State of Colorado further offers incentives for the renewable energy sector in which Novo anticipates being able to participate. These commitments from Colorado provide an ideal environment for Novo to construct its first tire waste to fuel facility.

About Novo Shares:

The fundamentals of the Company remain sound. The Company continues developing and planning additional facilities in Quebec, Canada as well as in other locations throughout North America. We are currently in discussions with numerous additional waste plastic and tire aggregators to ascertain where other plants maybe situated. More information on these developments will be announced as they occur. Following our appearance at the CleanTech Investor Summit in London this November, we are currently in discussions with a foreign partner for the construction of tire-to-fuel facilities overseas. This conference provided Novo with a world forum to present Novo's novel technology and expand its opportunities globally. (Video highlights of this conference can be found at

We are committed to our mission to our shareholders and the environment. Our recent developments include increasing the fuel yields from our plants. Moreover, we are taking steps to make our technologies more efficient and scalable. "We expect to have two plants fully operational by Q4 of 2010 in North America and an additional two plants overseas. The Novo team will continue working as effectively and as fast as possible for our shareholders. With regard to the recent fluctuation in our share price, we believe there is no reason for the changes based upon our recent advancements. The fundamentals of the Company are becoming stronger as we continue to proceed to achieve our business goals," stated Antonio Treminio, CEO & Chairman.

About Novo Energies Corporation: Novo is a public company trading on the Over the Counter Bulletin Board Market ("OTCBB") under the symbol NVNC, with offices in New York City, Montreal, and Quebec City. The Company's mission is to continue expanding within the renewable energy sector by developing and implementing renewable energy solutions while maintaining its commitment to conserve energy, natural resources and help reduce pollutants and unwanted wastes. Based upon a novel technology, Novo's wholly owned subsidiary WTL Renewable Energy, Inc. will plan, build, own and operate renewable energy plants that will transform residual plastics and tires to valuable liquid low carbon fuels such as diesel, gasoline and fuel additives.

Forward-Looking Statements: Except for statements of historical fact, this news release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on the Company's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to fund operations and other factors that the Company has little or no control. Such forward-looking statements are made only as of the date of this release and the Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in the Form 10-K of the Company for the fiscal year end August 31, 2008, and other documents filed from time to time by the Company with the Securities and Exchange Commission.

Contact Information

  • For more information, please contact:
    Mr. Antonio Treminio
    Chairman & Chief Executive Officer
    New York Tel: +1-212-315-9705
    Montreal: +1-514-840-3697
    Email: Email Contact