SOURCE: Perihelion Global

January 16, 2008 16:34 ET

Perihelion Global Receives Approval to Expand Storage Capacity at Opp, Alabama Refinery Site by Over 500,000 Gallons

SANTA ROSA BEACH, FL and OPP, AL--(Marketwire - January 16, 2008) - Perihelion Global (PINKSHEETS: PHGI), a development company with interests in natural resources, alternative energies, and advanced communications, today announced that the company has received approval from the Alabama Department of Environmental Management (ADEM) to install 15 additional storage tanks at the company's Opp, Alabama biofuel refinery site.

In a notice received from ADEM, it was determined that the Company application to install these tanks would not exceed state or federal emissions standards. The additional storage tanks represent over 500,000 gallons of capacity, and will be a key component to the production needs of the refinery. The tanks cited in this release have been paid for, in full, and are owned outright by the Company.

Perihelion recently executed a 5-year agreement with petroleum distributor Crew Distributing Co. of Opp, Alabama to purchase, distribute, and market biodiesel produced from the refinery. The Company will continue to update shareholders as progress on the Phase One refinery construction draws to completion. The Company reminds investors that a live camera feed of the refinery site remains available on the PeriheliBlog site located at: http://www.perihelionglobal.com/blog.

About Perihelion Global, Inc.:

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

  • Contact:
    John H. Beebe
    Chariman, Chief Executive Officer & President
    Perihelion Global, Inc.
    john@perihelion.com
    866-748-7610 x719