LOS ANGELES, Aug. 20 /PRNewswire-FirstCall/ -- BioGold Fuels Corporation
(OTC Bulletin Board: BIFC) announced that on August 18th it entered into a
Resource Recovery System Agreement with Harvey County, Kansas to process the
County's municipal solid waste, tires, and any other waste that BioGold agrees
to process. The waste will be delivered to the BioGold Bio-refinery facility
it plans to build in Harvey County. BioGold is negotiating a contract with
ICM, Inc. to design and build the facility, which will be located on Harvey
County's existing closed landfill.
BioGold will receive $35 per ton of waste it receives for processing from
Harvey County, which is currently estimated at 33,500 tons per year. In
addition, BioGold can bring in additional waste from neighboring counties.
The Agreement is for a 30 year term with options for 4 additional ten year
extensions. The Agreement also includes a lease for approximately 32 acres of
land, the county's existing transfer station, and eleven pieces of the
county's waste processing and hauling equipment and vehicles for one dollar
per year ($1.00). After five years, BioGold will annually pay Harvey County
five percent of its net profits from the sale of products made on site to the
County. BioGold plans to sell engineered fuel cubes, synthetic diesel fuel,
and organic chemicals that will be made from the processed waste.
"We are very excited to be joining forces with such an environmentally
conscious county such as Harvey County," said BioGold's CEO, Steve Racoosin.
"We believe that the amount of waste that ends up having to be dumped in a
landfill will be reduced by 85 to 90%. The County, its administration, and
its commissioners are very pro-active in searching out green alternatives.
The fact that they were willing to lease over 32 acres of their land, their
existing transfer station, and over 10 pieces of waste processing and hauling
equipment for only a dollar per year shows their commitment to making their
dream of not burying trash a reality. We hope that the 5% of net profits from
the sale of products made by BioGold will be used by Harvey County to improve
what is already a wonderful county."
For a corporate profile of BioGold Fuels Corporation, please visit
http://www.audiostocks.com or http://www.biogoldfuels.com.
About BioGold Fuels(TM) Corporation
BioGold Fuels(TM) Corporation is seeking to develop, acquire, license and
commercialize patented and proprietary technologies that its management
believes will allow a significant amount of municipal solid waste to be
recycled into electricity, synthetic diesel fuel and other renewable fuels to
address the multi-billion dollar renewable fuels market in the United States
and the world. A major component of MSW is paper-based material,
hydrocarbon-based material, and other high-energy value feedstocks. BioGold's
multi-fuel processing facilities will take all forms of waste into one
facility, while providing a green source of renewable fuels.
Safe Harbor Statement
The contents of this press release are presented as a general overview of
BioGold Fuels. This release is intended only to contain general information
regarding BioGold Fuels and its business and does not purport to provide
complete disclosure or analysis of all matters that may be relevant to a
decision to invest in BioGold Fuels. In addition, certain matters discussed in
this release may constitute 'forward-looking statements.' Actual results and
the timing of certain events may differ materially from those indicated by
such forward-looking statements due to a variety of risks and uncertainties,
many of which are beyond BioGold Fuels' ability to control or predict,
including, but not limited to, risks and uncertainties outlined in BioGold
Fuels' periodic reports filed with the Securities and Exchange Commission.
Investor Relations Contact:
AudioStocks.com
Ronald Garner
Investor Hotline: 760-692-1167
SOURCE BioGold Fuels(TM) Corporation