SOURCE: Amelot Holdings, Inc.

August 28, 2007 17:00 ET

Biodiesel Producer Amelot Holdings Announces Joint Venture to Develop up to 2,000-Acre Jatropha Plantation in Costa Rica

OSTERVILLE, MA--(Marketwire - August 28, 2007) - Amelot Holdings, Inc. (PINKSHEETS: AMHD) and Pan-Am Biofuels, Inc., a Utah-based company with bio-fuel feedstock plantations located in Costa Rica, have announced a joint venture partnership to develop a 2,000-acre Jatropha plantation in Guanacaste, Costa Rica.

The planned plantation, when fully operational in 2008, will produce up to 3 million gallons of Crude Jatropha Oil (CJO), which is bio-feedstock used to produce bio-diesel.

The plantation will be located in Guanacaste, Costa Rica, which has an optimal climate for growing the Jatropha Carcus.

The proposed project's low-risk and unique funding methodology will initially be facilitated within a blended public/private funding arrangement. Amelot holdings will have exclusive rights to all of the CJO produced by the plantation.

Aziz Hirji, Chairman of Amelot holdings, stated, "To be in the bio-diesel refining business today requires the control of a bio-feedstock source necessary to produce bio-diesel. We are confident that our current and future needs for feedstock will be secured and enhanced in this joint venture. In addition, this venture will greatly enhance the efficiency and profitability of Amelot's operations."

Pan-Am Biofuels, Inc. (http://www.panambiofuels.com) is a dynamic, forward-looking business entity poised to meet the explosive demand for alternative fuels through sustainable business solutions and green technologies that safeguard the future of our planet. Pan-Am uses Jatropha saplings made from selected and tested Jatropha seeds. They offer turnkey projects to corporations and individuals for the development of Jatropha plantations.

Joseph J. Black, President of Pan-Am Biofuels, stated, "Based on our proprietary knowledge and extensive experience gained, we have developed and enhanced systems for creating a failsafe Jatropha fuel farm. This project represents many months of intense work and planning to build what will become, when it is fully operational, the largest combination feedstock and bio-diesel production facilities of its kind in Central America."

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