SOURCE: Vencor International

Vencor International

February 19, 2015 08:30 ET

Vencor Lands Exclusive Contract to Manufacture Torrefied Bio-Coal

Production Capacity Recently Increased to Accommodate International Client

BOULDER, CO--(Marketwired - Feb 19, 2015) - VENCOR INTERNATIONAL, INC. (OTC PINK: VCOR) today announced it has entered into an Exclusive Agreement to manufacture torrefied Bio-Coal for an international client.

Vencor has entered into an Agreement with Georgia based, Vega Biofuels, Inc. to manufacture Vega's Bio-Coal product using torrefaction technology. The Agreement is for ten years and can be extended by the parties for additional ten year terms. Vega Biofuels markets its Bio-Coal product to clients around the world as a renewable energy alternative to traditional coal. Today's Agreement makes Vencor the exclusive manufacturer of all Bio-Coal marketed by Vega Biofuels.

Bio-coal is a renewable energy product produced from timber waste using technology called torrefaction. The physical and energetic properties of the biomass are then much more comparable to conventional coal. The torrefaction process has the added benefit of reducing or eliminating undesirable volatiles, such as nitrous oxides and sulfur dioxides in the Bio-coal. Bio-coal is considered carbon neutral to the environment. The key property that makes Bio-coal attractive for co-firing in existing coal-fired power stations is its superior grind ability compared to untreated or fresh biomass. Bio-Coal has a high energy density and is considered a renewable energy fuel that meets the Renewable Portfolio Standards and Renewable Energy Credits (RECs) in the United States.

In order to prepare for the increase in production, Vencor recently purchased the exclusive rights to torrefaction equipment manufactured by Virginia based, Torretherm. The Company currently has two Torretherm machines available for production with plans to add additional machines as the demand increases.

James Gaspard, CEO of Vencor International, Inc. stated, "The deal with Vega moves us forward as a company. Manufacturing is our strong suit and by utilizing the marketing ability of Vega, we can both become very significant contributors to the torrefied wood industry. Vega already has several Bio-Coal supply deals in hand that they have been unable to supply. We look forward to filling those orders as quickly as possible. All torrefied product manufactured for Vega will be privately labeled under the Vega Biofuels name. We recently increased our production capacity in anticipation of landing this deal and we will increase our production capacity further as we finalize other supply deals currently in Vencor's sales pipeline."

For more information about Vencor International, Inc., visit the Company's corporate website: vencorintl.com

Certain statements in this release 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," "project," "intend," "expect" "should," "would," and similar expressions and all statements, which are not historical facts, 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 the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.

Contact Information

  • CONTACT:
    Vencor International, Inc.
    303-476-9998
    Email Contact
    vencorintl.com
    @vencorintl