AE Biofuels, Inc., (OTCBB:AEBF), formerly American Ethanol, Inc., an advanced energy company that is developing and constructing biodiesel and next-generation ethanol facilities worldwide, announced today that it has closed its merger with publicly-held Marwich II, Ltd. As a part of the merger, Marwich II, Ltd. changed its name to AE Biofuels, Inc.
In December 2007, AE Biofuels commissioned an operating biodiesel facility in Kakinada, India with a nameplate capacity of 50 million gallons per year.
In addition, AE Biofuels plans to commercialize a patent-pending next-generation ethanol technology that the company intends to deploy at its permitted ethanol plant sites in the United States.
“As global and domestic markets seek alternatives to traditional fossil fuels, we are excited about our ability to meet this growing demand with quality products that address environmental concerns and help provide a path to energy independence,” said Eric McAfee, chairman and CEO of AE Biofuels, Inc.
AE Biofuels has six permitted ethanol plant sites in Illinois and Nebraska in addition to its biodiesel production facility in India.
About AE Biofuels, Inc.
AE Biofuels, Inc. is an advanced energy company that is developing, constructing and operating biodiesel and ethanol facilities worldwide. The company plans to commercialize its patent-pending next-generation ethanol technology that will enable the production of biofuels from traditional and non-food materials. AE Biofuels’ goal is to become a leader in the production and sale of renewable fuels, and to supply these clean-burning fuels to markets worldwide. For additional information about AE Biofuels, visit www.aebiofuels.com.
Forward-Looking Statements
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
Investors should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements.
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Contacts:
Andy Foster, 408-213-0928 (Media)
afoster@aebiofuels.com
or
Liviakis
Financial Communications, Inc.
John Liviakis, 415-389-4670
(Investors)
john@liviakis.com
