[Santa Clarita] – U.S. Energy Initiatives Corp. announced Tuesday that it has begun producing biodiesel in through its joint venture partner relationship. This partnership is designed to help meet California’s Mandated Requirement for biodiesel under the Low Carbon Fuel Standard (LCFS). In the next few months we will ramp up towards the name plate capacity and generate significant capital. This venture is part of an ongoing and carefully coordinated plan that both firms have planned throughout 2014.
According to Anthony Miller, CEO, “We are just excited to be producing B100 biodiesel which is a high grade single source ASTM quality biodiesel and I invite everyone to view our slide show above. The batch shown in the slideshow was fuel produced with virgin feed stock. Our goal is to utilize a wide variety of feedstocks to make different Biofuels. Promethean Biofuels is an amazing firm with an extremely competent staff and we are exceedingly happy to be working with them.
This week we begin a plan of acquiring feedstock for biodiesel and our initial purchase of 6,000 gallons should ramp up to 18,000 gallons per week in the next few weeks. Some of this fuel will be converted to B5 which is 5% biodiesel blended with regular diesel and some up to 20% biodiesel which is identified as B20… some B100 which is 100%; and some will be sold for feedstock. Diesel fuel blended with biodiesel sells in the open market for approximately $3.95 to $5.60 depending on the concentration of biodiesel and the quality of the biodiesel.
There is a significant demand for this fuel and our goal is to capitalize on this bourgeoning market. At this level of production noted hereto we believe that U.S. Energy’s revenue should exceed $100,000 in the next 45 days. Our management has other plans and partnerships that it is seeking to help us to reach our potential as a biofuel producer and marketer.”
About U.S. Energy Initiatives
U.S. Energy Initiatives Corporation is a diverse energy firm that has a long history of developing automotive and hybrid fuel systems and technologies. This firm first started in 1996 and has had a long successful business history of developing its business strategies. Management’s new goal is to develop its new and old technologies and to build a dynamic energy firm. The Company has three separate energy initiatives; one in the oil, gas & technology sector (brought in by Mr. Miller), one in the hybrid fuel or bio-fuel sector and one in the automotive sector. Our goal immediate goal is to develop our bio-fuel opportunities and going forward our goal is to acquire and develop stranded or un-recovered oil properties for enhanced oil production, create partnerships with operators, create strategic alliances for primary and secondary recovery. Our overall goal is to become an environmentally responsible energy company; utilizing all methods available to generate income. We will market our products to a worldwide market to produce significant revenue and add value for our shareholders.
About Promethean Biofuels
Founded in 2007, Promethean helps its customers dispose of their waste in a legally compliant manner that any green business owner can be proud of. With a mission to become an overall market leader in the fluid waste processing and recycling arena, Temecula, Calif.-based Promethean Biofuels has been recognized by the California Department of Resources, Recycling and Recovery (CalRecycles) for its waste reduction efforts several times over the past few years. Also, a winner of the 2009, 2010, and 2011 CalRecycles Waste Reduction Award. Promethean has also been named one of the Top 10 Technology Companies in the Inland Empire for the last two years. Promethean ensures that the quality of their products is consistently above compliance standards. Their production volumes recycled over 1,000,000 pounds of liquid waste product before the end of 2012. When asked what his goals for Promethean Biofuels are, Mr. Hill had this to say, “Our goal is to become a world-class fluid waste recycler.” Promethean Biofuels has positioned itself to be a supporter, and participant in a zero waste environment by creating unique and innovative ways to solve liquid waste disposal problems for the customer.