SOURCE: Perihelion Global

October 16, 2007 16:41 ET

Perihelion Global Announces Significant Activities Pertaining to Construction of Its Opp, Alabama Refinery

WILMINGTON, DE and SANTA ROSA BEACH, FL--(Marketwire - October 16, 2007) - Perihelion Global (PINKSHEETS: PHGI), a development company with interests in natural resources, alternative energies, and advanced communications, today announced that the company has made significant progress on several fronts relating to the construction of the company's first biodiesel plant to be located in Opp, Alabama.

First and foremost, the company is pleased to announce to its shareholders and residents of Opp, Alabama that 3 trucks are currently en route to Opp to deliver thousands of pounds of refinery equipment on-site this week that is being transported from the western United States. A second delivered load of equipment transported on 3 Semi-Tractors is expected on-site next week. Transport of the refinery equipment from the western United States and oversized load permitting is being conducted by H.D. Edgar Trucking, Co., Inc. of Opp, Alabama. As previously announced, the company purchased an independent refinery believed operating-ready and made preparations to physically transfer it to Opp to begin fulfilling the company's initial supply agreements.

To move the refinery equipment off of the trucks and on-site, Perihelion has contracted with Holland Manufacturing Co., Inc. of Dothan, AL to provide heavy equipment, including a 60-ton hydraulic crane to move the storage tanks and other refinery equipment.

Specific to the construction of the site, the company has selected Stor All Buildings, Inc. of Opp, Alabama as its concrete contractor to form and finish the concrete foundations. Effective immediately, the foundation work for the new refinery has begun. As to the construction of building facilities, Perihelion has selected Capital Construction, Inc. of Montgomery, Alabama to provide the first building solutions for Perihelion's Opp, Alabama biodiesel refineries. Capital Construction will use Cover-All Building Systems' TITAN II series buildings.

The buildings will be constructed with galvanized coated steel frames and coated tension membrane covers. The coated tension membrane covers allow light penetration, which will reduce power generation costs but reflects heat and UV rays. Additionally, Perihelion's building has been designed with a wind rating of 142 mph, which will sustain an upper Category-4 hurricane. The building has also been designed to be fire retardant. The TITAN II series building that Perihelion has chosen Capital Construction to build will be 163,681 cubic feet and will house the incoming biodiesel refinery that is presently being transported to Opp. As the TITAN II series is a modular design, Perihelion can further expand the size of the building at a later date as the growth of the refinery requires it.

John Smith, CEO of Capital Construction of Montgomery, AL, commented, "We're pleased that Perihelion has chosen Capital Construction and Cover-All for its refineries in Alabama. For over 8 years, we've been proud to construct Cover-All structures throughout the state, and have no doubt Perihelion will join our long list of satisfied customers."

John H. Beebe, Chairman, Chief Executive Officer & President of Perihelion Global, stated, "We are excited to announce our progress to date and look forward to having the first phase of the facility completed and online by the end of this year. We'd like to thank the citizens of Opp and those local and regional businesses that have assisted us with various needs. Perihelion is committed to making our Opp refineries a major contributor to the biofuels industry."

About Perihelion Global:

Perihelion Global focuses on the acquisition, development and management of technologies, strategic commodity reserves and assets in the energy, natural resource and communications markets. Perihelion's management team specializes in providing solutions for the strategic challenges of 21st Century. We lead with decades of experience in environments that are mission critical in today's global marketplace: Technology, Energy and Communications.

Website: http://www.perihelionglobal.com

Caution Regarding Forward-Looking Statements

This press release contains historical information as well as forward-looking statements that are based upon our estimates and anticipation of future events that are subject to certain risks and uncertainties that could cause actual results to vary materially from the expected results described in the forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "hopeful," "intend," "may," "optimistic," "preliminary," "project," "should," "will," and similar expressions are intended to identify these forward-looking statements. There are numerous important factors that could cause our actual results to differ materially from those in the forward-looking statements. Thus, sentences and phrases that we use to convey our view of future events and trends are expressly designated as Forward-Looking Statements as are sections of this news release clearly identified as giving our outlook on future business.

These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following important factors that could affect the actual outcome of future events:

-- general economic conditions, either nationally or in our market area, that are worse than expected;

-- regulatory and legislative actions or decisions that adversely affect our business plans or operations;

-- price competition;

-- inflation and changes in the securities markets that adversely affect the fair value of our operations; and

-- changes in our organization, compensation and benefit plans.

We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and wish to advise readers that the factors listed above could affect our financial performance and could cause actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. We do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact Information

  • Contacts:

    John H. Beebe
    Chairman, Chief Executive Officer & President
    866-748-7610 (Toll Free)
    john@perihelion.com

    Michael R. Varley
    Executive Vice President
    866-748-7610
    mvarley@perihelion.com

    Ed Villarreal
    Chief Operations Officer
    866-748-7610
    ed@perihelion.com

    H.D. Edgar
    President
    H.D. Edgar Trucking Co., Inc.
    334-493-6843
    Opp, Alabama

    Steve Holland
    President
    Holland Manufacturing, Co., Inc.
    334-794-4737
    Dothan, AL

    Rickey Boothe
    President
    Stor All Buildings, Inc.
    334-493-9838
    Opp, AL