SOURCE: Vencor International

Vencor International

March 12, 2015 08:30 ET

Vencor Updates Shareholders on Current Projects

BOULDER, CO--(Marketwired - Mar 12, 2015) - Vencor International, Inc. (OTC PINK: VCOR) provides the following Update to Shareholders.

Since current management joined the Company a few months ago, the entire dynamic of the Company has changed. Vencor has joined the fast moving renewable energy sector and its products are quickly becoming a popular alternative to traditional forms of energy, specifically, Bio-Coal for coal-fired power plants. To guide the Company's growth, industry expert, James Gaspard was hired as the Company's Chief Executive Officer. 

As previously announced, the Company's goal is to move from the Pinksheets to the OTCQB. To do this, the Company hired the LAR Law Group. This process is ongoing and the Company will provide new information as it is received. 

Mr. Gaspard successfully negotiated an Agreement for Vencor to secure the exclusive rights to torrefaction technology and torrefaction equipment manufactured by Virginia based, Torretherm, Inc. The first torrefaction machine is online and the second machine is currently being tested. The plan is for this machine to come online in the next few weeks. The two machines were necessary to keep up with the demand for the Company's products.

As a result of the Torretherm Agreement, the Company was able to secure an Agreement with Vega Biofuels, Inc. to produce a torrefied product Vega calls "Bio-Coal." Vega markets Bio-Coal to power companies around the world as an alternative to traditional coal. Vencor will be the exclusive manufacturer of Bio-Coal for Vega. Vencor has received the first Purchase Order from Vega to produce 3,000 tons of Bio-Coal. Vencor will provide a shipping update on this order as soon as production has been completed.

In order to provide proof of sustainability to its clients, Vencor entered into a Timber Agreement with a local logging company to purchase their tree top timber waste. The three year renewable deal will have a significant impact on the Company's bottom line by lowering its feedstock costs. 

In order to provide additional shareholder value, the Company announced earlier this week that it had amended its Articles of Incorporation to reduce the number of authorized common shares by forty percent; from five billion to three billion.

About Vencor:

Vencor is in the business of manufacturing a torrefied wood product, also known as Bio-Coal that can replace traditional coal in coal-fired power plants around the world. 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.

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
    info@vencorintl.com
    vencorintl.com
    @vencorintl