SOURCE: Amelot Holdings, Inc.

August 23, 2007 06:30 ET

A2O2 Updates Amelot on Timeline for Production of Facility

OSTERVILLE, MA--(Marketwire - August 23, 2007) - Amelot Holdings, Inc. (PINKSHEETS: AMHD) announced that it has been updated on the progress of the Toll Contract for production of Biodiesel from A2O2 of Pawtucket, Rhode Island.

Due to issues related to importing technology from Eastern Europe, A2O2 has informed Amelot that it must push back the scheduled opening of the 10 million gallon per year Pawtucket facility to January 2008.

"There have been many unforeseen issues with regards to the exporting from Europe and importing to the United States that have greatly hampered our progress," states Dr. Alex Chirkov, President of A2O2, Inc. "Some of the technology has to be remanufactured and sent back to us to finish the implementation."

Amelot Commodities Group, a division of Amelot Holdings, Inc., focused on the sales and acquisition of feedstocks and finished products, entered into a toll contract agreement earlier in the year to have A2O2 process Biodiesel to aggregate to the Tiverton, Rhode Island terminal storage for resale into the region and for possible export.

"A2O2 has gone through a very strenuous period of working with government officials over the past few months," states Allen Giles, President of Amelot Holdings, Inc. "Based on our last few conversations, I feel confident that A2O2 has done everything possible to resolve the issues and have a strong plan for moving forward."

About Amelot Holdings, Inc.:

Amelot Holdings, Inc., http://www.amelotholdings.com, a publicly traded company, is a diversified holding company that has identified a projected $20 billion opportunity to manufacture renewable fuels to supply the growing demand and to reduce the dependency and environmental impact of fossil fuels.

Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.

Internet address is http://www.amelotholdings.com.

Contact Information

  • Contact:
    IR Complete, Inc.
    (919) 468-4511