SOURCE: Clean Energy and Power, Inc.

November 22, 2010 12:06 ET

Clean Energy and Power, Inc. Signs LOI to Acquire Assets of Pacific Oil Products

Pacific Oil Products Specializes in Oil Extraction of Non Edible Feedstock

WARWICK, RI--(Marketwire - November 22, 2010) - Clean Energy and Power, Inc. (PINKSHEETS: KEPI) ( announced today that it has signed an LOI to acquire 100% of the assets of Pacific Oil Products which includes the proprietary technology needed to extract oil from the various oil producing feedstock and the management team that designed the equipment enabling the cost effective commercialization of oil extraction. 

Pacific Oil Products is the worldwide distributor of J-model (Jatropha oil), A-model (algae oil) and P-model (palm oil) presses (see an example of the press in action at Clients include the world's largest plant oil producer, the world's 3 largest Jatropha oil producers and the world's 2 largest algae oil producers.

"We have redesigned the extraction method of the base machine that is manufactured in Sweden and added our own proprietary technology to ensure quality and that maximum oil will be extracted properly and efficiently," stated David Gair, current president of Pacific Oil Products and now Chief Technology Officer for this new division of Clean Energy and Power. "We have sold many units worldwide and this has enabled us to become the leader in jatropha oil extraction. I am excited to be joining Clean Energy and Power and taking bio fuel extraction to the next level."

Mr. Gair continued, "Of renewable fuel oils, jatropha is the darling: it is non-edible, grows on wasteland, and produces both an excellent fuel and lubrication oil. It does not compete with food in any way and is not suitable to grow on land where food crops grow." ( Jatropha is also one of the fastest-growing biomass plants on earth, biomass that is easily used for power generation and a nutrient source for algae.

About Clean Energy and Power

The Company is focused on alternative energy opportunities. The Company is dedicated to acquiring fully developed environmental projects and putting them into production.

About Pacific Oil Products

Pacific Oil Products is the worldwide distributor of J-model (jatropha oil), A-model (algae oil) and P-model (palm oil) presses manufactured in Sweden with proprietary extraction technology added by Pacific Oil Products.

Safe Harbor:
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company cautions that these statements are further qualified by important factors that could cause actual results to differ materially from those in the forward looking statements, including, among others, the following: reduced or lack of increase in demand for the Company's products, competitive pricing pressures, and the level of expenses incurred in the Company's operations. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

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