SOURCE: Perihelion Global

December 05, 2007 13:31 ET

Perihelion Global Receives Biofuel Refinery Permit From Alabama Department of Environmental Management; Provides Additional Notices

WILMINGTON, DE and SANTA ROSA BEACH, FL--(Marketwire - December 5, 2007) - Perihelion Global (PINKSHEETS: PHGI), a development company with interests in natural resources, alternative energies, and advanced communications, today announced that the company has received an additional required permit approval relating to the construction of its first Opp, Alabama biodiesel refinery from the Alabama Department of Environmental Management ("ADEM"). The permit received was an air permit in regards to 'biodiesel manufacturing and associated process vessels.' To the best of the company's knowledge, Perihelion has now completed the permitting process.

The company also announced that effective at the close of business on December 27, 2007, Oregon-based Transfer Online, Inc. has been appointed the company's new transfer agent. Perihelion's current agent, American Registrar and Transfer Co, has notified the DTCC of this transition date.

The company is now proceeding on completing the full assembly and construction of the refinery that was originally transported into Opp this fall. Perihelion management advises shareholders that due to contractor delays relating to the manufacture and construction of the building, initial production of biodiesel will likely be slightly delayed from the late December 2007 date as originally conceived. Construction of the site can be viewed live on the PeriheliBlog located at

The company continues to receive requests for employment at the refinery and reminds interested parties that resumes can be submitted to for consideration. The construction of the refinery has generated substantial interest from the general public. The company would also like to remind the public that while visitors are welcome for prearranged tours, the site is an active construction zone and entry on the premises without prior written approval is strictly prohibited. Any violators will be prosecuted for trespassing. This measure is to comply with insurance regulations, local and state safety regulations concerning commercial construction zones, and federal OSHA requirements. The company believes it can adequately meet the public interest in following the progress of the project while complying with local, state and federal safety requirements with the 4 live webcams currently in operation and the prearranged guided tours.

Perihelion Executive Vice President Michael Varley commented, "We appreciate the work of ADEM in fostering an efficient permitting process, and we're happy to be one step closer to bringing Opp its first biodiesel refinery. With oil prices continuing to rise, we continue to see great interest in renewable fuels and believe they will become more and more competitive in the open market against fossil fuels. With the permitting process believed complete, we can now focus on the remaining construction of the plant and helping Alabama and the United States as a whole move towards a more sustainable future."

About Perihelion Global:

Perihelion Global focuses on the acquisition, development and management of technologies, strategic commodity reserves and assets in the energy, natural resource and communications markets. Perihelion's management team specializes in providing solutions for the strategic challenges of the 21st Century. We lead with decades of experience in environments that are mission critical in today's global marketplace: Technology, Energy and Communications.


Caution Regarding Forward-Looking Statements

This press release contains historical information as well as forward-looking statements that are based upon our estimates and anticipation of future events that are subject to certain risks and uncertainties that could cause actual results to vary materially from the expected results described in the forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "hopeful," "intend," "may," "optimistic," "preliminary," "project," "should," "will," and similar expressions are intended to identify these forward-looking statements. There are numerous important factors that could cause our actual results to differ materially from those in the forward-looking statements. Thus, sentences and phrases that we use to convey our view of future events and trends are expressly designated as Forward-Looking Statements as are sections of this news release clearly identified as giving our outlook on future business.

These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following important factors that could affect the actual outcome of future events:

-- General economic conditions, either nationally or in our market area, that are worse than expected;

-- regulatory and legislative actions or decisions that adversely affect our business plans or operations;

-- price competition;

-- inflation and changes in the securities markets that adversely affect the fair value of our operations; and

-- changes in our organization, compensation and benefit plans.

We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and wish to advise readers that the factors listed above could affect our financial performance and could cause actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. We do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact Information

  • Contacts:
    John H. Beebe
    Chairman, Chief Executive Officer & President
    Perihelion Global
    866-748-7610 (Toll Free) x 719

    Michael R. Varley
    Executive Vice President