EVANSVILLE, Ind.–(BUSINESS WIRE)– Imperial Petroleum, Inc. (OTCBB:IPMN.ob – News) announced that its wholly-owned subsidiary, e-biofuels, LLC, a Middletown, Indiana biodiesel producer, sold 1.98 million gallons of biodiesel in October 2010 resulting in revenues of approximately $6.3 million for the month. First quarter revenues from biodiesel sales represent approximately $16.7 million on 5.2 million gallons sold.
“It’s been very exciting to see the daily increases in activity at the e-biofuels plant translate into increased sales and revenues for the Company,” said Jeffrey T. Wilson, President of Imperial. “Sales in calendar 2009 averaged 7 million gallons and we are now on pace to maintain biodiesel sales at around an annual pace of 24 million gallons with revenues approaching $70 million per year. We’ve been able to use the increased cash flow to mitigate some of the past financial issues faced by e-biofuels and strengthen our financial position in the industry.”
Mr. Wilson went on to say, “Our proto-type tests are going very well on process enhancements and we hope to finish our financing initiatives in the short term to position the Company for even more explosive growth going forward.”
Imperial is an energy company headquartered in Evansville, Indiana.
This press release may contain “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management’s current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes that the expectations in such statements are reasonable, there can be no assurance that such expectations will prove to be correct.
Contact:
Imperial Petroleum, Inc.
Jeffrey T. Wilson, CEO
Phone 812-867-1433 Fax 812-867-1678
email: jtwilsonx1@aol.com
Showing posts with label Imperial Petroleum. Show all posts
Showing posts with label Imperial Petroleum. Show all posts
Friday, November 12, 2010
Sunday, September 5, 2010
Imperial Biofuels Subsidiary Clears Milestone
Press Release Source: Imperial Petroleum, Inc. On Wednesday September 1, 2010, 7:00 am EDT EVANSVILLE, Ind.–(BUSINESS WIRE)–Imperial Petroleum, Inc. (OTCBB:IPMN – News) announced that its wholly-owned subsidiary, e-biofuels, LLC, a Middletown, Indiana biodiesel producer, cleared a milestone in its development. After becoming part of Imperial and as the result of negotiating a series of feedstock purchase agreements and biodiesel off-take sales contracts, e-biofuels generated revenues of approximately $3.5 million in the month of July 2010 alone on fuel sales of about 1.2 million gallons and as a result the subsidiary expects to be highly profitable going forward. Fuel sales for August 2010 are approximately 1.4 million gallons with revenues of just over $4.0 million for the month.
“Expanding the plant throughput to its current capacity was one of our early goals for e-biofuels and a great deal of credit goes to the management of e-biofuels for their efforts and achievements thus far. August sales to date are on pace to exceed the July results,” commented Jeffrey T. Wilson, President of Imperial. “As a result of the mandates under the Renewable Fuels programs, e-biofuels has been in a unique position to take advantage of its certification as an advanced biofuels producer to rapidly increase its market presence. Our products are sold to some of the largest retail outlets and truck stop owners in the United States. Upon the closing of our financing for the Company, we expect to proceed quickly to expand the biodiesel production capacity to 25 MMGPY; convert the plant over to our more-efficient process technology and add bio-jet fuel capabilities. Our goal is to add slow pyrolysis equipment into the facility over the next year to produce both electricity for re-sale to the power grid and bio-oil for inclusion in our renewable boiler fuel and renewable heating oil products.”
Imperial is an energy company headquartered in Evansville, Indiana.
This press release may contain “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management’s current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes that the expectations in such statements are reasonable, there can be no assurance that such expectations will prove to be correct.
Contact: Imperial Petroleum, Inc. Jeffrey T. Wilson, CEO
Phone 812-867-1433 Fax 812-867-1678
email: jtwilsonx1@aol.com
This article brought to you be the Indiana Renewable Energy Association.
“Expanding the plant throughput to its current capacity was one of our early goals for e-biofuels and a great deal of credit goes to the management of e-biofuels for their efforts and achievements thus far. August sales to date are on pace to exceed the July results,” commented Jeffrey T. Wilson, President of Imperial. “As a result of the mandates under the Renewable Fuels programs, e-biofuels has been in a unique position to take advantage of its certification as an advanced biofuels producer to rapidly increase its market presence. Our products are sold to some of the largest retail outlets and truck stop owners in the United States. Upon the closing of our financing for the Company, we expect to proceed quickly to expand the biodiesel production capacity to 25 MMGPY; convert the plant over to our more-efficient process technology and add bio-jet fuel capabilities. Our goal is to add slow pyrolysis equipment into the facility over the next year to produce both electricity for re-sale to the power grid and bio-oil for inclusion in our renewable boiler fuel and renewable heating oil products.”
Imperial is an energy company headquartered in Evansville, Indiana.
This press release may contain “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management’s current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes that the expectations in such statements are reasonable, there can be no assurance that such expectations will prove to be correct.
Contact: Imperial Petroleum, Inc. Jeffrey T. Wilson, CEO
Phone 812-867-1433 Fax 812-867-1678
email: jtwilsonx1@aol.com
This article brought to you be the Indiana Renewable Energy Association.
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