SOURCE: ALL Fuels & Energy Company

July 12, 2010 13:36 ET

ALL Fuels & Energy Provides Corporate Update

DES MOINES, IA--(Marketwire - July 12, 2010) -  ALL Fuels & Energy Company (OTCBB: AFSE) today provided an update regarding its recent activities and existing opportunities. The company prefaced its update with a brief discussion of the current state of the ethanol industry from its unique perspective.

ALL Fuels' CEO and President, Dean Sukowatey, indicated that, from the company's perspective, the current conditions within the industry now more than ever require exceptional operation efficiencies and superior risk management with abundant working capital. This has created a significant increase in inquiries and business opportunities. He stated his belief that this increase in inquiries is due to two main factors: (1) ALL Fuels' COO James Broghammer; and (2) ALL Fuels' alliance with a major commodities firm. Mr. Sukowatey said, "Deal flow has picked up significantly and we believe we are in a strong position to capture opportunities."

ALL Fuels continues its efforts to negotiate and sign a purchase agreement to purchase an ethanol plant located in the Midwest United States. ALL Fuels currently enjoys a previously-announced period of exclusivity with respect to this ethanol plant and has made substantial progress in its due diligence efforts and is currently in the process of finalizing the necessary financing.

Last month, in a bankruptcy case involving the owner of an ethanol plant, ALL Fuels, as an unsecured creditor, filed a Motion to Convert or Dismiss the case. Objections to the Motion have been filed; the setting of a hearing date is expected soon. In its Motion, ALL Fuels cited numerous facts in support of its Motion.

About ALL Fuels & Energy Company

Visit the company online at: ALL Fuels & Energy Company is a development-stage ethanol company organized to operate as an ethanol producer, focusing primarily on the production and sale of alternative fuels, including ethanol and its co-products, cost saving efficiencies to the biofuels industry, and improved channels to market.

Safe Harbor Statement

This press release contains statements that may constitute forward-looking statements, including the company's ability to successfully acquire one or more ethanol production facilities. These statements are based on current expectations and assumptions and involve a number of uncertainties and risks that could cause actual results to differ materially from those currently expected. For additional information about ALL Fuels & Energy's future business and financial results, refer to ALL Fuels & Energy's Annual Report on Form 10-K for the year ended December 31, 2009. ALL Fuels & Energy undertakes no obligation to update any forward-looking statements that may be made from time to time by or on behalf of the company, whether as a result of new information, future events or otherwise.

Contact Information

  • Contact:
    ALL Fuels & Energy Company
    Dean Sukowatey
    6165 N.W. 86 St.
    Johnston, Iowa 50131
    Phone: 515 331 6509