Information contained on this page is provided by companies via press release distributed through PR Newswire, an independent third-party content provider. PR Newswire, WorldNow and this Station make no warranties or representations in connection therewith.
SOURCE New Fuel Systems Inc
VANCOUVER, March 18, 2013 /CNW/ - New Fuel Systems Inc., announced today that it has signed a Special Private Placement Agreement (SPPA) for USD $100,000,000 of equity line funding with Lambert Private Equity LLC (LAMBERT).
New Fuel Systems plans to utilize these funds, at their discretion, to construct several Plastic to Fuel Recycle Plants and process Plastic back to Oil. New Fuel Systems will own and operate the first of many additional Oil Producing Plants in North America.
All plastic waste; post-consumer, agricultural, nursery and industrial is very problematic to the environment. Plastic does not readily break down and on average produces 2.5 tons of CO2 for every ton of waste plastic that is incinerated or buried in a landfill. New Fuel Systems./P2F's PDS process will address a host of issues ranging from plastic waste management, significant landfill capacity issues, petroleum reserve depletion/fossil fuel conservation, greenhouse gas emissions, and overall reduction of the world's carbon footprint.
By converting waste plastic back into "sweet crude" oil…..this process may potentially encourage less drilling in environmentally sensitive areas and also have a positive impact, further reducing CO2 emissions. New Fuel Systems Inc./P2F's "Zero Waste Solution for Plastic" is effective and environmentally friendly with zero emissions. With the use of the P2F's PDS process, plastic waste is converted into Oil which can then be further distilled into Synthetic Fuels, like clean diesel, kerosene, heating oil and jet fuel. Therefore, P2F also believes its process will qualify for valuable Carbon Credits which can be traded on the world market.
This equity line serves as a catalyst to now proceed to construct three Plastic2Fuel recycle plants enabling the company to now aggressively lock in new partnership and acquisition targets.
Funding will also be provided for financing subsidiary Electric City Motors Inc.
Our Vehicles are designed to make a major difference in urban areas especially, where motor vehicles are the single largest contributor to ground-level ozone, a major component of smog. Each year, the cars we drive emit millions of tons of pollutants, contributing heavily to global warming and acid rain. Only a clean technology that is affordable to the many can slow down and eventually - when a critical mass is reached on a global basis - reverse this lethal evolution.
Jack Stuart, President and Chairman, added, "Our funding agreement with LAMBERT will be instrumental in the expansion of our business operations. I am excited to have the capital support from Lambert Private Equity LLC and the endless opportunities it potentially can bring to New Fuel Systems and Electric City Motors as we move forward with our rapid growth initiatives to help clean up the Planet."
New Fuel Systems Inc is excited about this plastic to fuel conversion technology and the business model for its rapid expansion. A full-scale, plastics-to-fuel prototype unit can convert 4,000 pounds of plastic bottles into 2,100 gallons of synthetic crude oil each day.
The U.S. Environmental Protection Agency estimates more than 26 million tons of plastic land in U.S. landfills annually, which means we are entering a market that could yield 6 billion gallons of petroleum product each year.
New Fuel Systems will now prepare to list the company on a US and Canadian Stock Exchange.
We will aggressively promote and demonstrate to the world that we have what we all need now, as it relates to the reduction in fuel costs, cleaner responsible fuel management, promoting environmental solutions and helping conserve our natural resources.
Crude Oil, Diesel, Jet Fuel from Waste Plastic
About Lambert Private Equity LLC
Lambert Private Equity LLC invests though its unique equity and equity-linked structures in publicly traded companies around the globe.
Lambert Private Equity LLC generally looks to invest amounts from $10 million up to $500 million directly into listed companies for a variety of activities including working capital, accretive EBITDA acquisitions and other growth opportunities.
We focus on equity investments in public companies as well as private companies that will be listed on a securities exchange within six months of a funding commitment.
Lambert Private Equity LLC has no outside investors and is considered a private group run by its principals, similar to a merchant bank that invests its own capital and as such it is seeking capital appreciation through the identification and funding of growth companies.
Lambert Private Equity LLC is not an underwriter and the funding it provides is based on specific terms and conditions, including the price and volume of the company's shares once the company is publicly listed. Lambert Private Equity LLC does not provide volume, liquidity, investor relations or public relations services. www.lambertfunds.com
Forward Looking Statements
The information in this press release contains "forward-looking statements" and are inherently susceptible to uncertainty and changes in circumstances. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often include words such as "anticipates," "estimates," "expects," "intends," "objective", "believes" and words and terms of similar substance in connection with discussions of future operating or financial performance. The Company's forward-looking statements are based on management's current expectations and assumptions regarding the Company's business and performance, the economy and other future conditions and forecasts of future events, circumstances and results. The Company's actual results may vary materially from those expressed or implied in its forward-looking statements. Important factors that could cause the Company's actual results to differ materially from those in its forward-looking statements include government regulation, economic, strategic, political and social conditions and other associated factors.
©2012 PR Newswire. All Rights Reserved.