14 Jul, 2010 Questar Transportation Services and Applied LNG Technologies to explore new liquefied natural gas projects
Questar Transportation Services Company (QTS) and Applied LNG Technologies, LLC (ALT) today announced they have signed a memorandum of understanding (MOU) establishing a framework for the companies to jointly explore new market opportunities for Rockies liquefied natural gas (LNG).
QTS, a subsidiary of Salt Lake City-based Questar Corporation, provides natural gas midstream field services, including gas gathering and processing. Headquartered in California, ALT, a subsidiary of Applied Natural Gas Fuels, Inc., is a producer and distributor of transportation- and industrial-grade LNG on the West Coast and in the Southwest.
Under the MOU announced today, QTS and ALT intend to accelerate market expansion of LNG products and services in the Rockies, primarily in the transportation and manufacturing sectors. The business framework is designed to increase net-to-the-well prices for Rockies producers supplying gas to this new market.
"The MOU sets the stage for ALT and QTS to jointly work with Rockies gas producers to develop LNG projects to serve large fleet owners and industrial users with a domestically produced, more environmentally friendly fuel that costs less than gasoline or diesel fuels. We hope to build on the leading role our affiliate, Questar Gas, has developed expanding CNG refueling capability in Utah," said R. Allan Bradley, Executive Vice President of Questar Corporation.
"The agreement signed today by QTS and ALT establishes a promising collaboration between two long-time natural gas providers," added Cem Hacioglu, President and CEO of ALT. "It will help us meet the growing demand from our nation's large trucking fleets, industrial users of propane and oil, and intermodal transportation and rail companies for proven alternatives to traditional fuels that are also less expensive and produce fewer harmful emissions."
About Questar Corporation:
Questar Corporation is a natural gas-focused energy company. Its subsidiaries include:
Wexpro Company, which develops and produces natural gas on behalf of Questar Gas Company's utility customers;
Questar Pipeline Company, which operates interstate natural gas pipelines and storage facilities and provides other energy services in the western United States; and
Questar Gas Company, a regulated natural gas distribution utility serving over 900,000 homes and businesses in Utah, Wyoming, and Idaho.
About Applied LNG Technologies, LLC:
Applied LNG Technologies, LLC (ALT) produces and markets liquefied natural gas (LNG). ALT owns a production facility located in Topock, Arizona, currently producing over 2 million gallons per month of vehicle-grade LNG. Along with that facility and other LNG production facilities, ALT has the capability of supplying the Western and Southwestern United States with commercial quantities of vehicle-grade LNG fuel. ALT provides LNG and CNG product and delivery systems and executes turnkey fuel solutions that include equipment leasing, station installations, safety and training, natural gas production, low BTU gas processing, temporary fueling stations, and LNG and CNG consulting services. ALT's customer base includes large municipal and transit fleets, various refuse companies, major ports and other commercial trucking fleets. The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's web site is www.altlng.com. ALT is wholly owned by Applied Natural Gas Fuels, Inc. (OTCBB: AGAS).
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
17 Jun, 2010 Applied LNG Technologies Provides Liquefied Natural Gas to Speedy Fuel in the Ports of Los Angeles & Long Beach
June 17, 2010 Long Beach, CA
On Friday, June 11, 2010, Speedy Fuel held a Ribbon Cutting Ceremony for its first full service liquefied natural gas (LNG) fueling station to serve heavy-duty class-8 trucks in the Ports of Los Angeles and Long Beach. Applied LNG Technologies (ALT) supplies LNG to the popular multi-fuel public access station that will offer truck owners and operators full traditional retail access, immediately off the 710 Freeway and Anaheim Street at 1234 Cowles Street, Long Beach, CA, 90805. President Nick Sramek, Port of Long Beach; Vice Mayor Val Lerch, City of Long Beach; and Councilwoman Tonya Reyes Uranga, City of Long Beach were among the dignitaries who spoke at the event.
"It gives me an immense pleasure to be here today celebrating the grand opening of this first ever LNG station in the Ports of Los Angeles & Long Beach that is entirely funded through private funds," said Cem Hacioglu, President & CEO, ALT. "I remember vividly the day Levon and Greg discussed their vision for this station. Despite being one of the largest diesel retailers in the Ports, the Termendzhyan brothers had the foresight to realize the importance of LNG as an alternative fuel."
Speedy Fuel completed this project in record time and without any help from public funds. The station has begun fueling operations within 60 days following initial groundbreaking providing trucking companies and independent owner operators a much needed alternative fueling location within the Ports.
Speedy Fuel and ALT are working together to expand LNG supply at two additional Speedy Fuel locations in the Southland. The additional stations are currently in the planning/development stages and are expected to be opened in 2011.
LNG meets California's strict emission standards and is now more readily available for use by commercial vehicles, heavy-duty trucks, utility companies, fleets, and other natural gas vehicles. Vehicles fueled by the transportation grade LNG produce approximately one-sixth of the nitrous oxides (NOx) and up to 15 percent less greenhouse gases than comparable petroleum diesel fueled vehicles.
About Speedy Fuel, Inc.
Speedy Fuel, Inc., owns and operates several fuel stations around Southern California. Speedy Fuel also distributes fuel through the Speedy Fuel Transportation subsidiary. Speedy Fuel is a leader in alternative fueling being the first private station in Southern California to provide an array of fuel choices to customers including the newest addition of liquefied natural gas (LNG) at its station just outside the Ports of Los Angeles and Long Beach.
About Applied LNG Technologies, LLC
Applied LNG Technologies, LLC (ALT) produces, markets and distributes liquefied natural gas (LNG). ALT owns a production facility located in Topock, Arizona, currently producing over 2 million gallons per month of vehicle-grade LNG. ALT provides LNG and compressed natural gas (CNG) product and delivery systems and executes turnkey fuel solutions that include equipment leasing, station installations, safety and training, natural gas production, low BTU gas processing, temporary fueling stations, and LNG and CNG consulting services. ALT's customer base includes large municipal and transit fleets, various refuse companies, major ports and other commercial trucking fleets. The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's web site is www.altlng.com. ALT is wholly owned by Applied Natural Gas Fuels, Inc. (OTCBB: AGAS
Forward Looking Statements:This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks, uncertainties and assumptions, including statements about future station development. The forward-looking statements made herein speak only as of the date of this press release and the company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Contact:
Scott M. Johns Regional Sales Manager (949) 294-9435
7 Apr, 2010 DRAFT 2010 Update to the San Pedro Bay Ports Clean Air Action Plan In five years, under the Clean Air Action Plan, diesel PM from all port-related sources would be reduced by a total of 1,200 tons per year. NOx emissions would be reduced by 12,000 tons per year, and SOx emissions would be reduced by 8,900 tons a year.[1]
Pollution Reduction Strategies:
* The Clean Air Action Plan addresses every category of port-related emission sources: ships, trucks, trains, cargo-handling equipment and harbor craft and outlines specific, detailed strategies to reduce emissions from each category. * The ports propose to eliminate dirty diesel trucks from San Pedro Bay cargo terminals within five years. * The ports will join with the state and local agencies to finance programs to replace trucks with a new generation of clean or retrofitted vehicles. * The ports, along with the South Coast Air Quality Management District, propose to allocate more than $200 million over five years towards this effort and will also aggressively seek state bond funding to assist with this massive truck replacement initiative. * As part of the Plan, all major container cargo and cruise ship terminals at the ports would be equipped with shore-side electricity within five to ten years so that vessels can shut down their diesel-powered engines while at berth. * Ships also would be required to reduce their speeds when entering or leaving the harbor region, use low-sulfur fuels, and employ other emissions reduction measures and technologies. * Within five years all cargo-handling equipment would be replaced or retrofitted to meet or emit at levels below those called for in the toughest U.S. Environmental Protection Agency emissions standards for new equipment. * Without the Clean Air Action Plan, much of the cargo handling equipment not affected by the California Air Resource Board's recently adopted cargo handling equipment regulation would be allowed to operate at current emission levels until it wears out. * Within five years all switching locomotives operating in the Ports also will meet the toughest U.S. Environmental Protection Agency standards for new locomotives, use cleaner fuels and exhaust treatment and devices that will automatically shut off engines to prevent extensive idling. * In addition, all new rail yards must use the cleanest technologies available for locomotives, trucks, and cargo handling equipment within their facilities. * The Plan also includes a far-reaching research component to address and ultimately overcome obstacles that impair the utilization of the cleanest vessels, engines and equipment in the world at the ports of Los Angeles and Long Beach.
For full text of the DRAFT Final 2010 CAAP Update, visit http://www.cleanairactionplan.org/civica/filebank/blobdload.asp?BlobID=2441
24 Mar, 2010 PNG Ventures, Inc. and Subsidiaries Emerge from Chapter 11 Reorganization
Significantly Deleveraged Company Well Positioned to Execute
Aggressive Growth Plans
Company to Change Name to “Applied Natural Gas Fuels, Inc.”
Dallas, Texas (March 24, 2010) PNG
Ventures, Inc. (OTCBB:PNGXQ) today announced it and its wholly owned
subsidiaries, New Earth LNG, LLC, Arizona LNG, LLC, Applied LNG
Technologies USA, LLC, Fleet Star, Inc., and Earth Leasing, Inc.
(collectively, the “Company”), have successfully emerged from the
voluntary reorganization filed on September 9, 2009 under Chapter
11 of
the United States Bankruptcy Code in the United States Bankruptcy
Court
for the District of Delaware. The Plan of Reorganization,
confirmed on
March 12, 2010 resulted in conversion of a majority of the
Company’s
outstanding debt to new common equity, and eliminated or mitigated
the
impact of certain onerous contracts inherited as part of the
Company’s
June 30, 2008 Share Exchange Transaction with Earth Biofuels, Inc.
Throughout the reorganization process, the Company operated its
business
in the ordinary course. The Company’s day-to-day operations and
delivery
of products or services to its customers were not adversely
affected by
the Chapter 11 filing.
Cem Hacioglu, President & CEO of PNG Ventures, said, “We are
very happy
to have successfully completed this critical process within a
short
period and are excited about the prospects of our new company
going
forward. Having recapitalized our balance sheet and eliminated a
number
of debilitating operational and financial impediments, we are now
superbly positioned to take advantage of the tremendous growth
opportunities in the alternative fuels market and become the
preeminent
provider of cleaner burning fuels for the domestic and
international
markets.”
Mr. Hacioglu continued, “On behalf of our Board of Directors and
management team, we would like to thank our employees and
professional
team for their hard work, perseverance and dedication. We would
also
like to thank our Plan sponsors, Medley Capital and Sandell Asset
Management for their faith in us and our long-term prospects. Most
especially, however, we would like to thank our customers,
suppliers and
other business partners for their patience throughout this arduous
process. We will continue to work very hard to be deserving of the
trust
and confidence they have placed in us and our Company.”
As part of the Plan of Reorganization, the majority of the
Company’s
senior credit facility was converted into approximately 66% of the
common stock of the newly organized Company with the balance
settled for
a combination of cash and a $9.8 million four-year term loan. In
addition, the Company’s trade and unsecured debts were exchanged
for a
creditor trust of approximately $1.2 million and 7.5% of the
common
stock of the newly reorganized Company. The Plan was funded by
approximately $8.3 mm in return for a combination of approximately
26.5%
of the common stock of the newly reorganized Company, a new $5.5
million
four-year term loan and $250,000 short-term loan. Previously
outstanding
equity, including all options, warrants and other derivative
instruments
linked to that equity, was eliminated as part of the Plan. The
Company
remains a public entity and, upon completion of the customary
regulatory
review and distribution of the creditor shares, should resume
trading
under a new symbol based on the name Applied Natural Gas Fuels,
Inc.
The foregoing is intended as a summary of the terms of the final
Plan of
Reorganization and confirmation process. A more detailed
description can
be found within the Company’s Current Report on Form 8-K which
will be
filed with the Securities and Exchange Commission. A copy of the
Plan
and Disclosure Statement are available at www.altlng.com.
About Applied Natural Gas Fuels, Inc. (formerly known as “PNG
Ventures,
Inc.”)
Through its Applied LNG Technologies and other subsidiaries, the
Company
engages in the production, distribution, and sale of liquefied
natural
gas (“LNG”) to customers consisting of public utilities,
industrial
end-users and other fleet customers within the transportation,
manufacturing, distribution, and municipal markets, primarily in
California, Arizona, and Nevada. The Company also offers turnkey
fuel
solutions, including delivery, equipment storage, fuel dispensing
equipment, and fuel loading facilities.
Forward-Looking Statements Disclosure
This press release may contain “forward-looking statements” within
the
meaning of Section 27A of the Securities Act of 1933, as amended,
and
Section 21E of the Securities Exchange Act of 1934, as amended. In
this
context, forward-looking statements may address the Company’s
expected
future business and financial performance, and often contain words
such
as “anticipates,” “believes,” “estimates,” “expects,” “intends,”
“plans,” “seeks,” “will,” and other terms with similar meaning.
These
forward-looking statements are subject to risks and uncertainties
that
could cause actual results to differ materially from results
proposed in
such statements. Although the Company believes that the
assumptions upon
which its forward-looking statements are based are reasonable, it
can
provide no assurances that these assumptions will prove to be
correct.
Factors that could cause actual results to differ materially from
these
forward-looking statements include, but are not limited to, the
following: the ability of the Company to successfully implement
its Plan
of Reorganization as confirmed; the Company’s ability to implement
its
business model as it has now emerged from bankruptcy protection;
the
Company’s ability to maintain its operations as a going concern
and to
service the newly restructured indebtedness it has incurred under
its
Plan of Reorganization; the Company’s ability to obtain and
maintain
normal terms with vendors, service providers, and leaseholders now
that
it has emerged from bankruptcy proceedings; the ability of the
Company
to fund and execute its business plan; the ability of the Company
to
attract, motivate and/or retain key executives and associates; the
ability of the Company to attract and retain customers; and
statements
or assumption underlying the Company’s Plan of Reorganization and
any of
the foregoing, as well as other factors set forth under the
caption
“Risk Factors” in our Annual Report on Form 10-K for the year
ended
December 31, 2008 filed with the Securities and Exchange
Commission and
other filings with the SEC. Similarly, these and other factors,
including the terms and impact of the Plan of Reorganization, as
confirmed, can affect the value of the Company’s equity
securities. No
assurances can be provided as to when, if at all, the Company’s
new
securities may be listed on a national securities exchange or on
the
over-the-counter market, or as to when, if at all, a trading
market may
be developed in the Company’s securities. Readers are cautioned
not to
place undue reliance on these forward-looking statements which
speak
only as of the date of this press release. All written and oral
forward-looking statements attributable to us, or persons acting
on our
behalf, are expressly qualified in their entirety by the
foregoing. We
assume no duty to update or revise our forward-looking statements
based
on changes in internal estimates, expectations, or otherwise or to
reflect events or circumstances after the date hereof.
10 Sep, 2009 PNG Ventures, Inc. and Subsidiaries File Voluntary Petitions for Reorganization under Chapter 11 of the United States Bankruptcy Code
Company plans to implement debt restructuring to enhance operations and convert majority of debt to new equity
Dallas, Texas (September 10, 2009) PNG Ventures, Inc. today announced it and its wholly owned subsidiaries, New Earth LNG, LLC, Arizona LNG, LLC, Applied LNG Technologies USA, LLC, Fleet Star, Inc., and Earth Leasing, Inc. (collectively, the “Company”), filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Court”). The filings were made to facilitate a broad-based debt restructuring plan which contemplates conversion of a majority of the Company’s outstanding debt to new common equity, and to mitigate the impact of certain onerous contracts inherited as part of the Company’s June 30, 2008 Share Exchange Transaction with Earth Biofuels, Inc.
Throughout the reorganization process, the Company will continue to operate its business in the ordinary course and does not expect that the Chapter 11 filing will have any adverse effect on its day-to-day operations or delivery of products or services to its customers.
Cem Hacioglu, President & CEO of PNG Ventures, said “Restructuring and recapitalizing our balance sheet is a critical step in positioning the Company to take advantage of the tremendous growth opportunities in the alternative fuels market. Today’s action will allow us to secure long-term relief from some of the debilitating legacy debt and operational impediments we inherited when the Company acquired its baseline LNG operations from Earth Biofuels in June 2008 and maintain our leadership position in providing innovative natural gas based fueling solutions to our customers. We will emerge from this process with substantially less debt and a dramatically improved capital structure which, in turn, will position us to be a stronger competitor and further support our long-term objective of becoming the preeminent provider of cleaner burning fuels for the domestic and international markets.”
In conjunction with its Chapter 11 petitions and standard and customary first day motions, the Company’s filing included a proposed Plan of Reorganization (the “Plan”) that contemplates, among others: (i) settlement of the majority of the Company’s senior credit facility for approximately 66% of the common stock of the newly reorganized Company, with the balance being settled for a combination of cash and a new four-year term loan; (ii) settlement of the Company’s trade debt and unsecured debt for approximately 28% of allowable claim amounts and 7.5% of the common stock of the newly reorganized Company; and (iii) securing financing of approximately $8.4 million to fund the Plan, for a combination of a new four-year term loan and approximately 26.5% of the new common stock of the newly reorganized Company. Under the proposed Plan, our existing equity would be eliminated, including all options, warrants and other derivative instruments that are linked to our existing equity.
The foregoing is intended as a summary of the terms of the Plan. A more detailed description can be found within the Company’s Current Report on Form 8-K which will be filed with the Securities and Exchange Commission. A copy of the Plan and Disclosure Statement are available at www.altlng.com. As the Plan and Disclosure Statement have not yet been approved by the Court, the Plan and Disclosure Statement may be materially modified before approval.
The Company’s bankruptcy counsel is Fox Rothschild, LLP.
This press release is for informational purposes only and is not a solicitation to accept or reject the Plan or an offer to sell or a solicitation of an offer to purchase any securities of the Company. Any solicitation or offer to sell will only be made pursuant to and in accordance with the Disclosure Statement and Plan of Reorganization distributed in accordance with the Bankruptcy Code, securities laws and other applicable laws and regulations.
About PNG Ventures, Inc.
Through its Applied LNG Technologies and other subsidiaries, the Company engages in the production, distribution, and sale of liquefied natural gas (“LNG”) to customers consisting of public utilities, industrial end-users and other fleet customers within the transportation, manufacturing, distribution, and municipal markets, primarily in California, Arizona, and Nevada. The Company also offers turnkey fuel solutions, including delivery, equipment storage, fuel dispensing equipment, and fuel loading facilities.
Forward-Looking Statements Disclosure
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to continue as a going concern; the Company’s ability to obtain court approval with respect to motions in the Chapter 11 proceeding prosecuted by it from time to time; the ability of the Company to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the Chapter 11 cases; risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period that the Company has to propose and confirm a Plan of Reorganization; the appointment of a Chapter 11 trustee or examiner or to convert the Company’s bankruptcy cases to cases under Chapter 7 of the U.S. Bankruptcy Code; the Company’s ability to obtain and maintain normal terms with vendors, service providers, and leaseholders and to obtain orders authorizing payments to such parties; the Company’s ability to maintain contracts that are critical to its operations; the potential adverse impact of the Chapter 11 cases on the Company’s liquidity or results of operations; the ability of the Company to fund and execute its business plan; the ability of the Company to attract, motivate and/or retain key executives and associates; the ability of the Company to attract and retain customers; and statements of assumption underlying any of the foregoing, as well as other factors set forth under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2008 filed with the Securities and Exchange Commission and other filings with the SEC. Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the Company’s various pre-petition liabilities, common stock and/or other equity securities. No assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these constituencies. Accordingly, the Company urges that the appropriate caution be exercised with respect to existing and future investments in any of these liabilities and/or securities. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date of this press release. All written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the foregoing. We assume no duty to update or revise our forward-looking statements based on changes in internal estimates, expectations, or otherwise or to reflect events or circumstances after the date hereof.
Contact: Rachel Croft 214-613-0214 or email: info@altlng.com
6 Feb, 2009 PNG Ventures, Inc. Appoints Cem Hacioglu as President and Chief Executive Officer The Board of Directors of PNG Ventures, Inc. (OTCBB:PNGX) announced today that it has appointed Cem Hacioglu as President and Chief Executive Officer, effective February 16, 2009.
PNG Ventures, Inc. produces liquefied natural gas ("LNG") from its production facility in Topock, AZ through its wholly-owned subsidiary Applied LNG Technologies USA, LLC (ALT). ALT currently produces and distributes over two million gallons monthly of vehicle-grade LNG to municipal and commercial transportation markets in the western United States.
“ALT has the potential to be the preeminent competitor in the growing LNG and alternative fuels market,” said Hacioglu. “I am grateful to our interim CEO, Kevin Markey, for his leadership during this critical transition period and intend to build upon his accomplishments. I look forward to working closely with him in his capacity as the Vice President of Sales and Operations of PNG Ventures.”
Hacioglu, 38, will continue to serve as a director of PNG, a position he has held since August 20, 2008. A co-portfolio manager of the Direct Investment Group of Sandell Asset Management Corp. since May 2005, a shareholder PNG, and former portfolio manager of Millennium Partners where he helped manage Millennium's direct investment portfolio, Hacioglu has held various positions at Fletcher Asset Management, Merrill Lynch and the World Bank. He earned his B.S. Degree in Economics from the United States Military Academy, West Point, and his M.B.A. in Financial Management from the MIT Sloan School of Management.
PNG Chairman of the Board, W. Phillip Marcum, said, “We are happy that Cem has agreed to become President and Chief Executive Officer of PNGX and look forward to the future growth and success of the Company under Cem’s leadership."
About ALT
Applied LNG Technology (ALT) produces and markets liquefied natural gas (LNG). ALT owns a production facility located in Topock, Arizona, currently producing over 2-Million gallons monthly of vehicle-grade LNG. Along with that facility and other LNG production facilities, ALT has the capability of supplying the western and southwestern United States with commercial quantities of vehicle-grade LNG fuel. ALT provides LNG and CNG product and delivery systems and executes turnkey fuel solutions that include equipment leasing, station installations, safety and training, natural gas production, low BTU gas processing, temporary fueling stations, and LNG and CNG consulting services. ALT’s customer base includes large municipal fleets, various refuse companies, major ports and other commercial trucking fleets. Possible feedstock sources for LNG production include landfill gases or methane sources from agricultural biomass facilities. The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's web site is www.altlng.com. ALT is wholly owned by PNG Ventures, Inc. (OTCBB: PNGX).
Forward Looking Statements Disclosure
This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
18 Nov, 2008 Border Valley Converts Fleet to Clean Fuel with ALT LNG
Applied LNG Technologies USA, LLC (“ALT”) announced an agreement to supply liquefied natural gas (LNG) to Border Valley Trading for use in their new fleet of LNG fueled trucks used in the distribution of their feed products.
Border Valley, founded with a primary goal of becoming the best export forage company in the industry, is now one of the largest exporters of compressed hay products in the state of California. Long a leader in feed safety, Border Valley has expanded their commitment to growers, customers, vendors, and the general population by replacing its fleet of diesel trucks with units that utilize clean-burning LNG fuel, making an investment to improve the environment. With fifteen LNG powered trucks currently in operation, they plan an additional five to ten by second quarter of 2009.
“Converting our export operations fleet to clean burning LNG was at the top of our list of new initiatives,” said Gregory Braun, President of Border Valley Trading. “We firmly believe that with ALT’s reliability and experience we are in the best possible position to continue to meet our customer’s expectations for feed safety and make a positive impact on the environment.”
The use of LNG helps reduce harmful emissions of smog-forming NOx by more than 30 percent and Greenhouse Gas emissions by more than 20 percent. Fleet operators report a 30 percent or better operational cost savings when running LNG trucks in place of diesel units. Border Valley’s new, clean-burning LNG trucks will significantly reduce the amount of harmful emissions, lowering distribution costs and allowing their vehicles to run more efficiently and with less maintenance.
ALT will deliver LNG to Border Valley’s new location outside of Brawley, California. This operation began as a 10-acre forage compressing facility and is today one of the world’s largest export facilities, utilizing 105 acres and 80,000 tons of storage capacity.
"Border Valley Trading's decision to utilize LNG over diesel is a vital step toward not only decreasing dependence on foreign oil, but also reducing greenhouse gases," said Kevin Markey, CEO and President of ALT. "The environmental benefits of clean burning LNG and the reduced maintenance costs greatly enhances Border Valley's position as one of the leaders in their industry."
About ALT
ALT’s production facility located in Topock, Arizona is wholly owned by Arizona LNG, LLC, sister company to ALT, and is a subsidiary of PNG Ventures, Inc. (OTCBB: PNGX). The Company produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's web site is www.altlng.com.
About Border Valley Trading
Border Valley Trading was founded in March of 1989 with a primary goal in mind: to be the best export forage company in the industry. This bold ambition helped to build the company into a diversified, full service export business that it is today. For more information visit the company’s Website at www.bordervalley.com.
Forward-Looking Statements Disclosure
This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
28 Oct, 2008 Burrtec Waste selects ALT to supply LNG to Second Location
Applied LNG Technologies USA, LLC (“ALT”), wholly owned subsidiary of PNG Ventures, Inc. (OTCBB: PNGX), today announced an agreement to supply liquefied natural gas (LNG) and fueling equipment to Burrtec Waste and Recycling Services for their fleet of 18 LNG refuse haulers used for residential, municipal, industrial and commercial waste management services at their Palm Desert, California location.
Founded in 1955, the Burrtec Waste family of companies is the largest privately held solid waste management organization in the State of California. Having already converted more than 50 percent of its fleet to either Liquefied Natural Gas (LNG) or Compressed natural Gas (CNG) fuels, the company received recognition, including the Natural Gas Vehicle Coalition Award, for their efforts and commitment to the environment. ALT has provided LNG to Burrtec at its Fontana, California location for more than five years.
“ALT has been a reliable source of LNG for many years,” said Frank Orlett, District Manager of the Burrtec Waste Palm Desert location. “We wanted them to be a part of our Palm Desert operation because they’ve demonstrated excellence in customer service and provided a dependable supply of quality fuel.”
Burrtec Waste’s utilization of LNG enables them to honor their commitment to provide the most cost-effective solution while meeting the needs of the communities they serve. Burning LNG reduces harmful emissions of smog-forming NOx by more than 30 percent and Greenhouse Gas emissions by more than 20 percent. Burrtec’s use of clean-burning LNG will significantly reduce transportation costs and harmful emissions, allowing their fleet to run more efficiently and with less maintenance.
“Burrtec Waste seeks to utilize the best in technology and environmental efficiencies,” said Kevin Markey, President and CEO of ALT. “We’re here to help them improve, not only their bottom line, but the environment they operate in. We look forward to growing with them.”
About ALT
ALT’s production facility located in Topock, Arizona is wholly owned by Arizona LNG, LLC, sister company to ALT, and is a subsidiary of PNG Ventures, Inc. (OTCBB: PNGX). The Company produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's web site is www.altlng.com.
About Burrtec Waste Industries
Headquartered in Palm Desert, California, Burrtec Waste and Recycling Services serves the communities of Cathedral City, Coachella, Indian Wells, Indio, La Quinta, Palm Desert, Rancho Mirage, Salton Sea, Twenty-nine Palms, Yucca Valley as well as areas of unincorporated Riverside and San Bernardino County. The company provides collection, recycling, and disposal services to public sector, commercial, industrial and residential customers throughout this area. Burrtec Waste Industries, Inc., its sister company EDCO Disposal Corporation and other Burrtec affiliated companies collectively make up the largest privately held solid waste management organization in the State of California. Originally started by the Burr family in 1955, the Company is still owned and operated by the Burrs'. For more information visit the company’s Website at www.burrtec.com or http://www.burrtecdesert.com/.
Forward-Looking Statements Disclosure
This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
17 Oct, 2008 HayDay Farms Converts to Clean Fuel with ALT LNG
Applied LNG Technologies USA, LLC (“ALT”) announced an agreement to supply liquefied natural gas (LNG) to HayDay Farms™ for use in their new fleet of state-of-the-art LNG fueled trucks used in the distribution of their feed products and in port delivery for overseas shipping.
HayDay Farms is committed to the improvement of the environment and has replaced its fleet of diesel trucks with units that utilize clean-burning LNG fuel. The use of LNG will help to reduce harmful emissions of smog-forming NOx by more than 30 percent and Greenhouse Gas emissions by more than 20 percent.
While these clean-burning LNG trucks will significantly reduce the amount of harmful emissions emitted into the air, they will significantly reduce HayDay Farm’s distribution costs and allow their vehicles to run more efficiently and with less maintenance. With a significant cost advantage, fleet operators report a 30 percent or better operational cost savings when running LNG trucks in place of diesel units. HayDay Farms expects to see similar results.
HayDay Farms is a highly dependable supplier of quality feed products for foreign and domestic dairy and beef cattle and show and stock horses. With more than 12,000 acres of farmland and 40,000 tons of storage capacity, HayDay Farms grows, harvests, and stores it own product before distributing to Japan, Korea, Taiwan, and throughout the United States. Future expansion is slated for China and Europe.
“Our success is due in part to selecting the right partners and we believe ALT will play an integral role as we continue to convert our operations to environmentally responsible methods,” said Lyndon Ichida, President of HayDay Farms. “Given the amount of transport our company manages, it is important to HayDay Farms to put systems in place that help protect the environment and that help to improve our own financial bottom line.”
“HayDay farms represents the next generation of LNG fleet operators,” said Kevin Markey President of ALT. “They converted their fleet voluntarily to take advantage of the significant cost savings of LNG over diesel -- while at the same time assisting in reducing our dependence on foreign oil and reducing greenhouse emissions.”
About ALT ALT’s production facility located in Topock, Arizona is wholly owned by Arizona LNG, LLC, sister company to ALT, and is a subsidiary of PNG Ventures, Inc. (OTCBB: PNGX). The Company produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's web site is www.altlng.com.
About HayDay Farms HayDay Farms is a vertically integrated agricultural system. The company owns and operates its own farms, processing plant, storage facilities and delivery system, enabling it to control all aspects of farming and exporting and ensuring consistent quality.
Forward-Looking Statements Disclosure This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
10 Oct, 2008 ALT Participates in Southern California Clean Vehicle Technology EXPO
Applied LNG Technologies USA, LLC (“ALT”) announced today it will participate and exhibit (booth #105) at the Southern California AQMD Clean Vehicle Technology EXPO (EXPO) on October 13 – 15 in Ontario, California.
The agency, also called South Coast Air Quality Management District (AQMD), is the air pollution control agency over all of Orange County and the urban portions of Los Angeles, Riverside and San Bernardino counties, the second most populated urban area in the United States and one of the smoggiest. AQMD is committed to undertaking all steps necessary to protect public health from air pollution, with sensitivity to the impacts of its actions on the community and businesses.
EXPO is part of the AQMD’s overall program to reduce emissions from mobile sources, accounting for over 75 percent of the Southland's air pollution. This year, EXPO will focus on the latest in clean vehicle technologies—diesel emission control devices; light, medium and heavy-duty alternative fuel and hybrid vehicles; fuel cell and electric vehicles; plug in electric hybrids—while giving private and public fleet owners and operators the opportunity, to learn about the billions of dollars available in funding programs.
During the South Coast AQMD’s new "Money Monday," presentations and workshops will focus on:
California's $1 billion Prop 1B Program to purchase new diesel and alternative fuel trucks and the ARB On-Road Truck Rule.
California's $1.4 billion (AB 118) Alternative and Renewable Fuel and Vehicle Technology Program for technology RD&D and deployment.
SCAQMD "SOON" Program for off-road equipment.
Real world fleet success stories of operational cost savings through alternate fuels in transit, solid waste collection, and on-road trucking.
Carl Moyer Program, MSRC, EPA funding, and more.
“EXPO is an important event for us, enabling us to interact with our customers and network among the industry’s leading professionals,” said Kevin Markey, Vice President of Operations for ALT. “We look forward to receiving and sharing valuable information about clean vehicle technologies and the economic and environmental benefits of LNG.”
About ALT
ALT’s production facility located in Topock, Arizona is wholly owned by Arizona LNG, LLC, sister company to ALT, and is a subsidiary of PNG Ventures, Inc. (OTCBB: PNGX). The Company produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's web site is www.altlng.com.
About Southern California Clean Vehicle Technology EXPO
Now in its fourth year, the AQMD Clean Vehicle Technology EXPO returns to the Ontario Convention Center, October 13-15, 2008. EXPO is California's premier and most comprehensive event for fleet and purchasing managers, infrastructure providers, diesel emission reduction technology companies, public agencies, alternative fuel stakeholders, and other industry experts to see, touch, and experience the latest in clean vehicle technologies while learning about the billions of dollars in funding programs available for the purchase of these technologies. For more information visit the event’s website at http://www.cleanvehicleexpo.com.
Forward-Looking Statements Disclosure
This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
3 Oct, 2008 ALT Supplies LNG to Nikkiso Cryo, Inc. for Critical Field Testing
Applied LNG Technologies USA, LLC (“ALT”) announced a contract to provide LNG for equipment testing purposes to Nikkiso, a world leader in Cryogenic Pump design and production.
“Having a reliable source of LNG is critical to the success of our international sales operations,” said Charles Molina, President, Nikkiso Cryo, Inc (NCI). “ALT is well-situated to offer cost effective distribution to our location, guaranteeing the success of our cryogenic pump tests.”
At their state-of-the-art facility in N. Las Vegas, Nevada, NCI manufactures and rigorously tests cryogenic pumps used in the global storage, transportation and distribution of natural gas. Cryogenic pumps can be found in land-based terminals, ships, and new offshore facilities responsible for delivering natural gas to the consumer. Customers travel to the facility from around the globe to witness the performance test, a process that replicates the pumps operating conditions in the field.
“Providing LNG to Nikkiso is vital to the testing process required to insure the strategic supply of LNG, a critical energy source for the US and other Global markets”, said Kevin Markey, Vice President of Operations for ALT. “We appreciate the opportunity to play such an important role in Nikkiso’s production and testing process.”
ALT’s production facility located in Topock, Arizona is wholly owned by Arizona LNG, LLC, sister company to ALT, and is a subsidiary of PNG Ventures, Inc. (OTCBB: PNGX). The Company produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's web site is www.altlng.com
About Nikkiso Cryo, Inc. Nikkiso Cryo, Inc. (“NCI”) is a subsidiary of Nikkiso Co., Ltd. Originally designed as a Cryogenic Pump test facility for the Higashimurayama factory in Tokyo, Japan, NCI has evolved, becoming a Production Facility with growing Engineering, Procurement, and Sales capabilities and the most highly trained and motivated staff, in the cryogenic pump production business.
Forward-Looking Statements Disclosure This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
20 Aug, 2008 ALT LNG Provides LNG to Pacific Harbor Line for Locomotives -- LNG fuel proves economical and safe
Applied LNG Technologies ("ALT") announced a contract with Pacific Harbor Line to provide LNG for the Pacific Harbor Line locomotive fleet which serves the nation’s leading container port, the Port of Los Angeles. ALT LNG provides approximately 800 to 1000 gallons of LNG per delivery to Pacific Harbor on a schedule of every 4 -5 days. LNG fuel reduces emissions from the air compared to traditional diesel fueled locomotives.
“ALT LNG has been a reliable and competitively priced source for the LNG we need to fuel our locomotives,” said Mike Stolzman, vice president Pacific Harbor Line. “The fuel was put through a stringent testing and approval process and it has proven to meet all required fuel and safety standards.”
“The pilot program with Pacific Harbor Line has been very successful and we plan to provide more demonstrations of the usage and benefits based on what we have done with Pacific Harbor,” said Kevin Markey, vice president operations ALT LNG.
About PNG Ventures PNG Ventures (OTCBB: PNGX) has 100% ownership of ALT LNG and its production facility located in Topock, Arizona. The company produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The company's Web site is www.altlng.com
Forward-Looking Statements Disclosure This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
9 Jul, 2008 ALT Wins LNG Supply Contract for the City of Phoenix, Arizona
PNG Ventures, Inc. (OTCBB: PNGX) today announced its wholly owned subsidiary, Applied LNG Technologies USA, LLC (“ALT”) has executed a liquefied natural gas (“LNG”) supply contract with the City of Phoenix, Arizona. Under the terms of the agreement, PNG Ventures will supply over 10 million gallons to the City over the course of the next twelve months. The City of Phoenix will use the LNG as a transportation fuel for its municipal transit buses.
The City of Phoenix is the largest single purchaser of transportation LNG in the United States.
Director of the City of Phoenix Public Transit Department, Debbie Cotton, stated, “The City of Phoenix is proud to be a leader in the advancement of the use of LNG as a clean, affordable alternative solution to this nation’s energy concerns. We are pleased to be working with ALT in offering clean, domestically produced LNG to our municipal fleet.”
Kevin Markey, interim CEO of PNG Ventures, said, “Our agreement with the City of Phoenix is a great addition to the growing strength of ALT. We are excited to begin this relationship with such a forward-looking partner.”
PNG Ventures, Inc., through its wholly owned subsidiary, ALT, produces liquefied natural gas (“LNG”) from its production facility in Topock, AZ and distributes its product to municipal and commercial transportation markets in the western United States. The Company’s new web site is currently under construction. ALT’s website is www.altlng.com.
Forward-Looking Statements Disclosure
This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
7 Jul, 2008 Earth Biofuels Spins Off LNG Subsidiary in Consideration for Majority Ownership of PNG Ventures
Earth Biofuels, Inc. (OTCBB: EBOF) today announced the closing of a share exchange with PNG Ventures, Inc. (OTCBB: PNGX) that has resulted in PNGX acquiring EBOF’s wholly-owned subsidiary, New ELNG, LLC, which includes Applied LNG Technologies USA, LLC (“ALT”) and its related LNG business, in exchange for the transfer to EBOF of a majority ownership of PNGX.
With the acquisition, PNGX is now positioned to grow ALT’s LNG business of producing and distributing liquefied natural gas (“LNG”) as a transportation fuel. As a result, Earth Biofuels’ management believes its shareholders will benefit through the Company’s ownership in PNGX. Kevin Markey, former Vice President of Sales for ALT, will be serving as interim CEO of PNGX.
LNG is becoming a fuel of choice among large fleet operators who are seeking cleaner and less costly options to traditional diesel fuel. At current oil and gas prices and tax incentive programs, LNG is between one half and two thirds the cost of petroleum diesel as a fuel for vehicles, depending on the customer. Additionally, emissions of greenhouse gases and particulate matter from LNG-powered vehicles are significantly lower than those from petroleum diesel-powered vehicles.
The spin-off transaction is an important part of EBOF’s restructuring plan, described in its SEC report on Form 8-K filed on 21 November 2007. The share exchange has allowed EBOF to restructure its financial obligations and pursue its main focus of biodiesel and cellulosic ethanol production and alternative fuels distribution.
EBOF’s CEO, Dennis McLaughlin, stated, “Our management believes this transaction will unlock the value of the company’s LNG business and allow it to grow both in terms of production capacity as well as market penetration. The management of PNGX will be able to focus on growing the LNG business as a pure play, and EBOF and its shareholders will benefit through its substantial ownership of a significant player in the fast growing LNG industry.”
Earth Biofuels, Inc. endeavors to produce and distribute biodiesel fuel and cellulosic ethanol through wholesale and retail outlets. The biodiesel fuel is sold under Willie Nelson's brand name, "BioWillie®." The Company's Web site is www.earthbiofuels.com.
Forward-Looking Statements Disclosure This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
11 Jun, 2008 Earth Biofuels Signs Binding Letter of Intent to Spin Out LNG Subsidiary
Earth Biofuels, Inc. (OTCBB: EBOF) announced the execution of a binding letter of intent with PNG Ventures, Inc. (OTCBB: PNGX) whereby PNG Ventures has agreed to purchase a 100% ownership interest in Earth Biofuels’ wholly-owned subsidiary, Earth LNG, Inc.
PNG Ventures is to acquire 100% ownership of Earth LNG and all of its subsidiaries, including ALT LNG and its production facility located in Topock, Arizona. Earth Biofuels is to receive stock ownership in PNG Ventures as consideration for the transaction. PNG Ventures and Earth Biofuels have agreed to use best efforts to close the transaction on or before June 30, 2008, and have agreed to a break up fee to be paid to PNG Ventures in the event the transaction does not close.
Earth Biofuels is actively engaged in the transition and the establishment of the changes in PNG Ventures’ management in order to re-direct its business focus to liquefied natural gas (“LNG”) production and distribution.
Earth Biofuels CEO, Dennis McLaughlin, stated, “This pending transaction accomplishes several goals for our company. First, it will unlock the value of the LNG business by virtue of its existence in a new public company dedicated to growing the LNG operations. Second, as Earth Biofuels will initially own a controlling interest in PNG Ventures, we believe that it will allow our shareholders to participate in the increased valuation and future growth of the LNG business. Based on the proposed structure (which is yet to be finalized), the imputed value of the transaction would be, in management’s estimation, approximately $125 million. Third, it will be part of an overall settlement with prior Earth Biofuels creditors pursuant to the interim restructuring agreement described in our SEC report on Form 8-K filed on November 21 of last year.”
“Earth Biofuels will now be able to focus on its business plan of developing biodiesel production from diverse feedstocks, retail distribution of alternative fuels through fueling stations and truck stops such as ‘Willie’s Place at Carl’s Corner’, and the development of cellulosic ethanol production facilities,” Mr. McLaughlin concluded.
Earth Biofuels, Inc. endeavors to produce and distribute biodiesel fuel and cellulosic ethanol through wholesale and retail outlets. The biodiesel fuel is sold under Willie Nelson's brand name, "BioWillie®." The Company's Web site is www.earthbiofuels.com.
Forward-Looking Statements Disclosure This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
23 May, 2008 ALT Renews LNG Supply Contract with City of Long Beach
Applied LNG Technologies, LLC (“ALT”) today announced that it has renewed its contract to provide the City of Long Beach, California with liquefied natural gas.
The City of Long Beach utilizes liquefied natural gas (“LNG”) as transportation fuel for its municipal fleet of approximately 200 natural gas-powered vehicles. The City currently uses approximately 10,000 gallons of LNG per week.
“We are pleased to continue the relationship with ALT,” stated Erik Sund, purchasing agent for the City of Long Beach. “ALT has provided LNG to Long Beach since 2003 and this contract renewal ensures that our city will continue to utilize clean burning, domestically produced fuel for our fleet vehicles.”
The City of Long Beach’s commitment to alternative fuels and sustainable practices via ALT has resulted in a 25% decrease in fuel cost for LNG vehicles. The City of Long Beach currently maintains a LNG fleet of 70 vehicles ranging from sweepers, dump trucks to asphalt patch trucks. In addition, Long Beach’s LNG units have contributed to a 15 to 20% reduction in greenhouse gas emissions over equivalent diesel engines.
ALT’s Vice President, Kevin Markey, said “We are pleased to continue working with the City in its efforts to provide LNG to its municipal fleet and look forward to contributing to Long Beach’s ‘green’ initiatives.”
About the Company ALT LNG produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company''s Web site is www.altlng.com.
Forward-Looking Statements Disclosure This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
12 May, 2008 ALT Signs Contract with City of San Bernardino to Supply LNG to its Municipal Fleet
Applied LNG Technologies, LLC (“ALT”) today announced it has entered a three year agreement to supply the City of San Bernardino, California with liquefied natural gas.
The City of San Bernardino utilizes liquefied natural gas (“LNG”) as transportation fuel for its municipal fleet vehicles.
“We are pleased to be working with ALT in offering clean, domestically produced LNG to our municipal fleet and to the public in a convenient location,” stated Don W. Johnson, Fleet Manager for the city. “ALT has been a great partner in this effort.”
Under the terms of the agreement, ALT will also provide maintenance for the city’s existing LNG public access station.
Kevin Markey, Vice President of ALT, commented, “Our agreement with the City of San Bernardino is a great addition to the growing strength of ALT. It allows ALT to provide LNG on a long term basis in a well-maintained public access station and gives San Bernardino peace of mind knowing that they have stability regarding their LNG supply”.
About the Company ALT LNG produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company''s Web site is www.altlng.com.
Forward-Looking Statements Disclosure This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
19 Feb, 2008 ALT LNG Signs Supply Agreement With SYSCO
Applied LNG Technologies (“ALT”) today announced it has executed a new three year supply agreement to sell and deliver liquefied natural gas (“LNG”) to SYSCO Food Services of Los Angeles, Inc., a subsidiary of SYSCO Corporation (NYSE: SYY).
As is the case with its numerous other West Coast customers, ALT will deliver the LNG from its plant in Topock, Arizona to SYSCO of Los Angeles for use in SYSCO’s fleet of delivery trucks.
Robert Kidder, Manager of Fleet and Facilities for SYSCO Foods of LA, stated, “Signing this long term contract with ALT provides us a secure source of LNG at costs significantly lower than diesel prices.”
ALT’s Vice President of Operations, Kevin Markey, said, “This long term agreement gives ALT the opportunity to continue our relationship with an outstanding group like SYSCO Foods of LA that is dedicated to natural gas fuel alternatives.”
Transportation grade LNG helps companies meet strict emission standards in the state of California. Vehicles fueled by the transportation grade LNG produce approximately one-sixth of the nitrous oxides (NOx) and up to 15 percent less greenhouse gases than comparable petroleum diesel fueled vehicles.
Forward-Looking Statements Disclosure This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
3 Jan, 2008 ALT LNG Receives Renewable LNG Output from Landfill Project
Applied LNG Technologies, (“ALT”) today announced it has begun receiving regular deliveries of the output of renewable liquefied natural gas (“LNG”) produced from a landfill site in Orange County, California.
Per the terms of a prior agreement, ALT has the first right to purchase one hundred percent of the nameplate capacity (5,000 gallons per day) production of the LNG facility which is owned by a wholly-owned subsidiary of Prometheus Energy Company at the Frank R. Bowerman Landfill. ALT markets the LNG to the Orange County Transportation Authority.
ALT’s Vice President of Operations, Kevin Markey, said, “We are excited to incorporate renewable LNG from landfill gas into our growing California market. The demand for clean, transportation-grade LNG in California has never been higher.”
Prometheus’ Chief Operating Officer, Earl Franklin, added, “We are proud to have the first LNG production facility of its kind in operation and look forward to growing our relationship with ALT.”
Solid waste landfills produce a 50% methane gas as a result of the decomposition of organic materials within the landfill. The Bowerman production facility is the first of its kind in the U.S. to commercially produce renewable vehicle-grade LNG from landfill gas.
Transportation grade LNG helps companies meet strict emission standards in the state of California. Vehicles fueled by the transportation grade LNG produce approximately one-sixth of the nitrous oxides (NOx) and up to 15 percent less greenhouse gases than comparable petroleum diesel fueled vehicles.
About ALT LNG
ALT LNG produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company''s website is www.altlng.com.
Forward-Looking Statements Disclosure This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
15 Nov, 2007 City of Redlands Opens LNG & CNG Fueling Station to Public
The City of Redlands now offers the public access to purchase Liquefied Natural Gas and Compressed Natural Gas (LNG/CNG) through the renewal of a three-year contract with Applied LNG Technologies (ALT), the largest provider of vehicle-grade LNG in the Western United States.
Liquified Natural Gas (LNG) meets California’s strict emission standards and is now more readily available for use by commercial vehicles, heavy-duty trucks, utility companies, fleets, light-duty trucks and consumer CNG vehicles. Vehicles fueled by the transportation grade LNG produce approximately one-sixth of the nitrous oxides (NOx) and up to 15 percent less greenhouse gases than comparable petroleum diesel fueled vehicles.
The City of Redlands’ fueling station is located at 1270 West Park Avenue and will be open Monday through Friday, 5:30 a.m. to 5:30 p.m. and Saturday, 5:30 a.m. to 4:00 p.m.
“We are pleased to be able to offer the public access to clean, domestically produced LNG and CNG in a convenient location and ALT has been a great partner in this effort,” said Gary Van Dorst, Director of Quality of Life Department, City of Redlands.
Through California’s South Coast Air District and Air Quality Management grants, the City of Redlands will operate 20 of its 32 municipal vehicles on LNG/CNG fuels by the fiscal year end.
“This is a win-win agreement because it allows ALT to provide LNG on a long term basis and gives the City of Redlands peace of mind knowing that they have stability regarding their LNG supply,” said Kevin Markey, Vice President, ALT, Inc.
About ALT LNG
ALT LNG produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's Web site is www.altlng.com.
31 Oct, 2007 ALT to participate in Mobility 21 Transportation Summit
Applied LNG Technologies (ALT) announces its participation in the Mobility 21 Sixth Annual Southern California Transportation Summit, Monday, November 5, 2007, reports Kevin Markey, Vice President Operations.
"Mobility 21 was created in 2002 to bring together elected officials, transportation providers, businesses, local municipalities, labor and community leaders to develop solutions to the transportation issues facing Los Angeles County. In 2007, Mobility 21 became a regional effort to focus on the transportation efforts of Southern California. In addition to Los Angeles County, Mobility 21 is comprised of stakeholders from Ventura, Orange, San Bernardino and Riverside Counties to engage in a conversation about regional transportation priorities for our 17 million residents," according to the event's sponsors.
30 Oct, 2007 Applied LNG Technologies to exhibit at California Transit Association Fall Conference & EXPO
Applied LNG Technologies to exhibit at California Transit Association 42nd Annual Fall Conference & EXPO, November 12-14, 2007 at the Anaheim Convention Center in Anaheim, CA.
30 May, 2007 EPA study says metals in air pollution can aggravate asthma
WASHINGTON (May 30) -- Environmental Protection Agency scientists have identified metals as components in air pollution that may affect the severity of asthma.
The findings are in a recently released international study that is the first such report to link animal and human data to show the possible role of metals in aggravating asthma.
The report is available online in the Environmental Health Perspectives journal at ehp.niehs.nih.gov.
The study was conducted in collaboration with researchers at the German Research Center for Environment and Health.
2 May, 2007 4 Calif. metro areas top American Lung Association smoggiest cities list
NEW YORK (May 2) -- California´s major metropolitan areas are the smoggiest cities in the United States, according to an American Lung Association report.
For the fourth consecutive year, the Los Angeles, Fresno, Bakersfield and Visalia-Tulare-Porterville metropolitan areas top the list, followed by the Houston-Galveston area.
Nearly half of the nation´s population -- more than 137 million people -- live in areas with unhealthy amounts of ozone, which is the main ingredient in smog.
"We see a tiny dip in the number of Americans directly affected by ozone, but at these huge numbers, it´s insignificant," said John Kirkwood, the American Lung Association´s president and CEO.
Ninety-three counties´ ratings improved by at least one grade since last year´s report, while 26 counties received lower grades this year, based on air quality data collected by the Environmental Protection Agency.
20 May, 2006 EPA settles lawsuit over national standards for soot and smog
WASHINGTON (May 20) -- The Environmental Protection Agency has settled a lawsuit filed by environmental and health groups by promising to re-examine national air quality standards for soot and smog.
The American Lung Association, the Clean Air Task Force, Earthjustice and Environmental Defense said May 19 that they reached an agreement with the EPA that establishes a schedule for reviewing national standards for particulate and ozone limits in light of recent scientific evidence.
The standards were set in 1997, and the Clean Air Act requires the EPA to review them every five years, according to the groups. However, the EPA has not yet done so.
"It is crucial that we continue to update public health safeguards according to the latest medical research about the dangers of these pollutants," said Howard Fox of Earthjustice.
Particulate matter has been linked to heart and lung ailments and premature deaths.
The settlement, filed in the U.S. District Court in Washington, obligates the EPA to publish updated standards for particulate matter by Dec. 20, 2005. The agency must publish updated ozone standards by Dec. 20, 2006.
The agreement will not delay the EPA´s ongoing plans to adopt the eight-hour ozone standard, Fox said. On May 14, the EPA published guidelines to help states begin developing strategies to comply with the ozone standard that was established in 1997. That standard was not immediately adopted because of legal challenges that had to be resolved.