SOURCE: Raptor Technology Group, Inc.

February 16, 2011 16:42 ET

Raptor Fabrication and Equipment an Instrumental Sub-Contractor in an Algae-Based Jet Fuel Project

GROVELAND, FL--(Marketwire - February 16, 2011) - Raptor Technology Group, Inc. (OTCBB: RAPT), which is in the process of acquiring Raptor Fabrication & Equipment, Inc. ("Raptor"), is pleased to discuss Raptor's involvement in an advanced algae-based jet fuel project.

Raptor was an instrumental sub-contractor in a project funded by the Defense Advanced Research Projects Agency (DARPA), part of the Department of Defense. The goal of the project was to produce a $3 per gallon cost for algae derived JP-8 jet fuel and develop a scalable process for cost effective and large scale production of algae based fuels.

"This is one of the more challenging projects Raptor has been involved in. From a practical standpoint, the use of algae feedstocks for the production of biofuels must be looked at as a commodity chemical issue," said Dwayne Dundore, PhD, Chief Technology Officer of Raptor. "The key to the use of algae for fuel will be to simplify the processing system to allow for larger scale handling of the algae at all stages of the process. We look forward to working with DARPA and Science Applications International Corp. (SAIC) to achieve their goals," added Dundore.

The project was designed in two phases; the first involved refining the technology and developing lab-scale production capabilities. The second involved the construction of a pre-pilot scale production facility. "In 2006, the U.S. Military spent approximately $6 billion on 71 million barrels of JP-8 jet fuel. The success of this project would greatly reduce that cost as well as reduce dependence on foreign oil supplies," said Tom Gleason, President of Raptor. "Needless to say this is a market we would like to participate in. The cost of jet fuel is a global issue that is rising yearly. Addressing this industry with a viable technology holds promising rewards for Raptor," added Gleason.

About Raptor Technology Group, Inc.

Raptor Technology Group, Inc. has signed a "Plan of Merger Agreement" with Raptor Fabrication & Equipment, Inc. and anticipates the business combination to be completed shortly. Raptor Fabrication & Equipment, Inc. is a technology supplier that provides eco-friendly and green solutions to global issues. The company is committed to developing reliable fuel and energy alternatives by making them both dependable and economically appealing to the manufacturer as well as the consumer. Additional patent pending technology has also been developed to recover rare earth minerals from endless miles of mine tailings. This technology provides an eco-friendly means of recycling these mine tailings both economically and profitably.

Raptor Technology Group, Inc. has positioned itself to become a leader in the biofuel and mining industries with their advanced proprietary biofuel production technology and mineral recovery technologies. Their constant drive for eco-friendly business solutions and economically profitable business models will secure Raptor Technology Group, Inc. as a leader in alternative energy and remediation sectors.

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: The statements in this release relating to completion of the acquisition of Raptor Fabrication & Equipment, Inc. by Raptor Technology Group, Inc. and the positive direction are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include, but are not limited to, contractual difficulties which may arise, the failure to obtain necessary approvals, the future market price of Raptor Technology Group, Inc. common stock, the ability to obtain the necessary financing and the failure of Raptor Technology Group, Inc. to complete the acquisition of Raptor Fabrication & Equipment, Inc.

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