Dallas, TX, June 9, 2006 — Earth Ethanol Inc., a wholly owned subsidiary of Earth Biofuels Inc. that sells fuel under Willie Nelson’s brand name “BioWillie,” announced that it has signed a letter of intent (LOI) to acquire a 51 percent equity interest in North Carolina-based Albemarle Biorefinery Inc. (ABR), which is a wholly owned subsidiary of DFI Group Inc. of Raleigh, North Carolina.
ABR intends to build an ethanol facility in the town of Jamesville, Martin County, North Carolina.
“The signing of this letter of intent is consistent with the company’s intention to expand into the Southeast region of the United States and marks a significant milestone in our short-term development plan,” stated Earth Biofuels CEO Dennis McLaughlin. “When completed, this facility will be ideally positioned to provide ethanol fuel to several large markets along the Eastern seaboard from Atlanta, Georgia, to Washington, D.C.”
Upon completion of the Phase I development plan, this new ethanol plant will have a capacity of at least 50 million gallons of ethanol per year. Phase II, which is planned for the very near future, will add an additional 50 million gallons per year.
Earth Biofuels produces and distributes biodiesel fuel through the company’s network of wholesale and retail outlets.
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