SOURCE: Solar Acquisition Corp.

March 22, 2011 10:31 ET

Solar Acquisition Announces Definitive Agreement for Biofuel Subsidiary

ANN ARBOR, MI--(Marketwire - March 22, 2011) - Solar Acquisition Corp. (OTCBB: SLRX) today announced that its wholly owned subsidiary, B151, Inc., has entered a joint venture to develop biofuel refineries for the production of biodiesel from renewable sources.

B151, Inc. and Bio Evolution, Inc. have agreed to begin the development of B-100 Biodiesel plants in the State of Arkansas. The plants, when completed, are projected to each produce approximately 3.6 million gallons per year (MGY) of advanced biofuels, and biomass-based diesel from waste vegetable oils and animal fats.

These new facilities will be geographically distributed to meet the needs of fuel producers mandated by the EPA's Renewable Fuel Standard (RFS-2) to utilize 1500MGY of advanced biofuels in 2012; and doubles to 3000MGY in 2016.

The material definitive agreement, executed on March 15th, 2011, is expected to close within 30 days. 

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth and business strategy. Words such as "expects," and "projects" and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. There is no guarantee that the company will close any transaction related to biofuel or that if close the company will have sufficient resources to produce any products. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

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