SOURCE: Global Clean Energy

October 20, 2008 14:07 ET

Global Clean Energy Inc. (OTCBB: GCEI) -- Working to Find Solutions to New European and UK Environmental Standards

DENVER, CO--(Marketwire - October 20, 2008) - Global Clean Energy Inc. (OTCBB: GCEI) may benefit from the new European Union and UK carbon dioxide emission restrictions and will help members of the EU achieve their CO2 reduction targets.

GCEI's clean coal mission is to reduce emissions by converting carbon based feedstocks into synthetic gas to power electric generation facilities.

On October 17th 2008, the UK Government increased its commitment to reduce CO2 emissions from 60% of 1990 levels by 80% by 2050. GCEI solutions can contribute and help the UK achieve these targets by converting dirty coal to clean, synthetic, natural gas for power production. Syngas not only improves generation efficiency, but also reduces carbon dioxide emissions by approximately 50%.

At last week's Quarterly European Council meeting in Brussels, it became clear that there are significant problems for some of the old Iron Curtain countries in achieving the established EU carbon dioxide emission targets. Poland, Hungary, Bulgaria and others are almost entirely dependent upon coal for power production and will, from 2013, be required to buy carbon permits under the EU Emissions Trading Scheme to continue power production. GCEI's clean coal technology may be suitable to assist in reducing emissions in these EU countries. It is anticipated that GCEI's President, John Grob, will be visiting various authorities within these countries in November to discuss the possibility of entering into joint venture projects with coal powered plants.

As part of the Company's goal to reduce global emissions, GCEI is investigating an opportunity to acquire a facility enabling it to transform algae into a liquid biofuel. Algae oil to biofuel is a well understood and highly profitable process that is within the scope of GCEI's business plan, especially as it is a carbon neutral process. Additionally, it can actually increase oil yield by "feeding" the algae carbon dioxide from power stations. This is one of the few alternatives to carbon dioxide sequestration and is acknowledged to be a cheaper and faster solution to a major world problem. Prof. Philip Azimov, GCEI's Chief Scientific Liaison, will be attending the National Algae Association Conference in Houston on October 23rd, 2008.

The GCEI Dredging Pump, which has been preliminarily tested at the UK Coal slurry lake, has been enhanced and will be tested in its new extended capacity form, in a marine dredging situation in Texas, starting October 27th. The pump size has been increased, and its performance enhanced to provide the volumes required to empty the slurry lake more quickly and to demonstrate its capacity for seaway marine dredging.

Persons interested in obtaining more information concerning the Company should either view the Company's website at www.globalcleanenergy.net, or contact the Company's investor relations department at (303) 522-8449.

Statements in this release, other than statements of historical fact, may be regarded, in certain instances, as "forward looking statements" pursuant to Section 27A of the Securities Act 1933 and Section 21B of the Securities Exchange Act 1934, respectively. "Forward-looking statements" are based on expectations, estimates and projections at the time the statements are made, and involve risks and uncertainties, which could cause actual results or events to differ materially from those currently anticipated, including, but not limited to delays, difficulties, changed strategies, or unanticipated factors or circumstances affecting the GCEI and its business. A number of these risks and uncertainties are described in GCEI's periodic reports filed with the Securities and Exchange Commission. There can be no assurance that such forward-looking statements will ever prove to be accurate and reader should not place undue reliance on any such forward-looking statements contained herein, which speak only as of the date hereof. The GCEI will not republish revised forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

Contact Information

  • Contact:
    GLOBAL CLEAN ENERGY INC.
    Investor Relations
    303-522-8449