SOURCE: IO Circuit

December 01, 2011 07:30 ET

Biodiesel Continuing Its Rapid Growth

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO CIRCUIT

NEW YORK, NY--(Marketwire - Dec 1, 2011) - Eco Ventures Group, Inc. (OTCBB: EVGI) has announced the progress of their biodiesel plant in Florida. Eco Ventures Group is expanding its footprint in biodiesel production by building a production facility similar to the operations of KiOR, Inc (NASDAQ: KIOR), Mission NewEnergy Ltd (NASDAQ: MNEL) and FutureFuel, Corp (NYSE: FF).

In a report by Emerging Markets Online titled Biodiesel 2020: A Global Market Survey, it states, "The global market for biodiesel is poised for explosive growth in the next ten years. Although Europe currently represents 90% of global biodiesel consumption and production, the U.S. is now ramping up production at a faster rate than Europe, and Brazil is expected to surpass U.S. and European biodiesel production by the year 2015."

US Department of Energy (DoE) has provided $718m in funding for the commercialization of advanced biofuels as well as to help the industry to meet the mandated production targets for advanced biofuels, which will increase from 950 million gallons in 2010 to 21 billion gallons per year in 2022.

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