SOURCE: BlueFire Ethanol

August 23, 2007 08:30 ET

BlueFire Concludes 1st Annual Shareholder Meeting

IRVINE, CA--(Marketwire - August 23, 2007) - BlueFire Ethanol Fuels, Inc. (OTCBB: BFRE) conducted its first annual shareholder meeting Wednesday August 22, 2007 in Irvine, California. The two items of business were the election of Directors and the ratification of the independent certified public accountant.

The Directors elected were:

Arnold R. Klann - BlueFire Chairman & CEO

Necy Sumait - BlueFire Senior Vice President

Victor Doolan (Outside Director) - Most recently President Volvo Cars North America, formerly the Executive Director of the Premier Automotive Group, the luxury division of Ford Motor Company. Mr. Doolan currently serves as a director for Sonic Automotive.

Christopher Nichols (Outside Director) - President, CEO & Chairman of Advanced Growing Systems, Inc.

Joseph Emas (Outside Director) - Specializes in securities regulation, corporate finance, mergers and acquisitions and corporate law. Mr. Emas is a director of several public companies which trade on both the OTC.BB and Amex.

McKennon Wilson & Morgan LLP:

McKennon Wilson & Morgan LLP is a regional accounting firm consisting of former Big Four and IRS professionals. McKennon Wilson & Morgan LLP will continue to serve as BlueFire's independent certified public accountants until the Annual Meeting of Stockholders in 2008.

Announcements

BlueFire announced the July submission of its NASDAQ application at the shareholder meeting. Arnie Klann stated, "BlueFire chose the NASDAQ Exchange as the next logical step for several reasons. One, the NASDAQ uses the market maker system which BlueFire feels is superior in many respects to the specialist system. Two, it will enable BlueFire to retain its current trading symbol BFRE or 'Be Free' as it is referred to. We have always felt at BlueFire that our ticker symbolized our goal as a company to 'Be Free' from foreign oil."

For regular updates on BFRE please click on the following link:http://www.b2i.us/irpass.asp?BzID=1437&to=ea&s=0

About us:

BlueFire Ethanol Fuels, Inc. is established to deploy the commercially ready, patented, and proven Arkenol Technology Process for the profitable conversion of cellulosic ("Green Waste") waste materials to ethanol, a viable alternative to gasoline. BlueFire's use of the Arkenol Process Technology positions it as the only cellulose-to-ethanol company worldwide with demonstrated production of ethanol from urban trash (post-sorted MSW), rice and wheat straws, wood waste and other agricultural residues. Our goal is to develop and operate high-value carbohydrate-based transportation fuel production facilities worldwide. These "biorefineries" will convert widely available, inexpensive, organic materials such as agricultural residues, high-content biomass crops, wood residues, and cellulose from MSW into ethanol. BlueFire intends to build a multinational company that leads the world in producing biobased transportation fuels. Its business will encompass development activities leading to the construction and long-term operation of production facilities while maintaining technological advantage and ownership of the process technology and all its improvements. Ethanol will be produced from biorefinery facilities opportunistically constructed on or near landfills, waste collection and waste separation sites. Each facility will deploy the proprietary technology, which uses all cellulosic waste materials traditionally disposed of in landfills as feedstock. www.BlueFireEthanol.com

FORWARD-LOOKING STATEMENTS

Statements about BlueFire Ethanol, Inc.'s expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. BlueFire's actual results could differ materially from expected results. BlueFire undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release; BlueFire will appropriately inform the public.

Contact Information

  • Institutional Investment Advisor:
    Paul Gozzo
    President
    PMG Capital, LLC
    Tel. 888-747-5397
    Fax. 888-799-9741
    pmgcapital@hotmail.com

    Investor Relations Contact:
    Gerald Kieft or Ryan Audin
    Wall Street Resources, Inc.
    2646 SW Mapp Road, Suite 303
    Palm City, Florida 34990
    772-219-7525
    http://www.wallstreetresources.net