SOURCE: Perihelion Global

January 23, 2008 16:13 ET

Perihelion Global Provides Update on Opp Biofuel Refinery Construction; Welcomes William Roncali to Biofuel Division

WILMINGTON, DE and SANTA ROSA BEACH, FL--(Marketwire - January 23, 2008) - Perihelion Global (PINKSHEETS: PHGI), a development company with interests in natural resources, alternative energies, and advanced communications, today provided an update on the construction of its Opp, Alabama Biofuel refinery.

As shareholders and other interested parties can view on our live camera feed, the exterior and structure of the TITAN II building has been completed. The company has recently unloaded the four on-site trailers of refinery components into the building and is now progressing on the interior features which include lighting and electrical work. Ongoing over the last few days, the on-site steel storage tanks are also being sandblasted and repainted. Within the next few weeks, the company expects to begin assembly of the tanks, piping, and other interior refinery hardware necessary for biodiesel production.

The company wishes to confirm that it does expect initial biodiesel production to occur within the current quarter ending March 31 or earlier, therein evolving Perihelion into an emerging, production-level alternative fuels provider.

The Company would also like to announce the addition of William Roncali to its Biofuel division. Mr. Roncali joins the Company's Biofuel division with 20 years of leadership and management experience, including an extensive 5 years of biodiesel refinery production, marketing, and sales. Mr. Roncali is keenly familiar and experienced with all stages of biodiesel production and processes, including feedstock and chemical. Most recently, Mr. Roncali was the Director of Marketing and Sales for a wholesale fuel distributor, where he was tasked with securing sales and promotional contracts for biodiesel producers and distributors. Prior to that, he was the Operations Manager for a chemical brokering and refining plant on the Gulf Coast.

Outside of civilian management positions, Mr. Roncali has held key leadership positions in his decade of military service to our country, including supervisory roles during the Cold War on the Russian border and more recently as part of an elite task force in Operation Desert Storm. The company believes that the addition of Mr. Roncali is a key component to the development of Perihelion Biofuel Division's domestic and international sales and production strategy.

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 the 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)