SOURCE: Alliance Media Group Holdings, Inc.

November 06, 2014 10:47 ET

UPDATE - Alliance Media Group Holdings, Inc. Announces a New Name -- ("Alliance BioEnergy + Inc.") to Reflect Its Singular and Dedicated Focus on Bioenergy, Biofuels & Bioplastics

WEST PALM BEACH, FL--(Marketwired - Nov 6, 2014) -   Alliance Media Group Holdings, Inc. (OTCQB: ALLM) (the "Company") announced today that it has filed a Pre 14C proxy statement to change the Company's name to Alliance BioEnergy +, Inc., in order to better reflect the Company's new direction on its exciting portfolio of advanced bioenergy, biofuel and bioplastic technologies. It is expected that the new name should be effective by early December 2014. 

INSTITUTE SCIENCE AND TECHNOLOGY

An immediate initiative of the Company and its venture partner will be the establishment of a stand-alone science, development and advanced research center being located in the Orlando area of Florida in the US. The center will be headed by acclaimed scientist and Professor at the University of Central Florida, Dr. Richard Blair. The new subsidiary will focus on optimizing the Company's core CTS technology, exploring and advancing alternate pathways and products such as bio-plastics, carbon fiber and fine chemicals from cellulose while looking to create new intellectual properties in the bio-fuels and bio-energy fields.

COMMERCIAL DEMONSTRATION PLANT

The institute will also be home to the Group's state of the art CTS demonstration plant being designed and built by Dr. Blair's CTS team. This demonstration plant should be online in the first quarter of 2015 and allow the Company to demonstrate the CTS in real time at a commercial scale to potential partners, governments and licensees. 

CARBOLOSIC PLANT 1 BEGINS TO RECEIVE FUNDING

In other news, the Company's first CTS plant (being developed by wholly owned subsidiary - AMG Renewables) has successfully closed on its construction and licensing financing arrangements with the United States Regional Economic Development Authority ("USREDA") *[see previously released news on July 16, 2014].

USREDA has now begun securing foreign investment for the Company's first plant and anticipates full funding by the end of the first quarter in 2015, which would allow Plant construction by Q2 2015. 

FAREAST AND NEAR EAST TOUR

The Company's management is in advanced discussions with several multinational organizations and foreign governments for joint participation, territory and plant licensing and funding cooperation. Under the direction of AMG Renewables' CEO Joe McNaney, a senior corporate and technical management team is joining Dr. Blair from mid till late this month in meeting with key government officials, university technical experts sugar industry personal and executives of strategic and commercial corporations in China and India in order to introduce the CTS technology to those powerful and highly populated countries. Both India and China are among the world's leaders in sugar production and the Company will showcase its effective and low cost biofuel program that will assist sugar industries to produce low priced fuels, energy and other valuable products from cane-sugar waste.

About ALLM :

Alliance Media Group Holdings, Inc. (OTCQB: ALLM) is a Florida based public holding company focusing on the advancement of renewable energy and emerging fuel and energy technologies. Alliance Media Group Holdings, Inc (or "AMG") currently operates wholly owned subsidiary AMG Renewables, LLC., which is focusing on the "Green Energy" sector and controls licenses and patents for several revolutionary bio-fuel and fine chemical technologies. AMG Renewables management team and Board of Advisors is made up of highly experienced professionals from the bio-fuels, petroleum and bioscience industries.

Information in this document constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast", "anticipate", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause Alliance Media Group Holdings, Inc actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in Alliance Media Group Holdings, Inc filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Alliance Media Group Holdings, Inc herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Alliance Media Group Holdings, Inc disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.

Contact Information

  • Public Relations and Media Contact:

    EraStar, Inc
    (775)771-5808