GROVELAND, Fla., Aug. 7, 2012 /PRNewswire/ -- Eco Ventures Group,
Inc. (OTCBB: EVGI and EVGID), an emerging producer of diversified,
sustainable alternative energy, today announced that both
Lake County and the City of Groveland, Florida have awarded the
Company biofuel fabrication, manufacturing and sales permits.
Along with the County's permits, the City of Groveland passage of ordinance
2012-05-06 permits the Company's fabrication of biofuel equipment,
manufacturing and (wholesale and retail) sales of biofuel on all of
the Company's Groveland, Florida
headquarters property.
Based upon the configuration of Eco
Venture's expandability of up to a 100,000 square-foot
property, the Company estimates its potential biofuel production
capacity to be up to 90 million gallons annually. EVGI is
evaluating multiple fuel technologies that will potentially meet
this demand.
The issuance of the local permits cap about five months of
application, communication and town meetings on this subject, and
are considered a Company asset, competitive advantage and barrier
to entry. EVGI is actively working to complete the permitting and
entry process for biofuel manufacturing, air quality and related
permits from the U.S. Environmental Protection Agency and other
state and federal regulatory agencies -- all of which plan to be
completed when the Company prepares to begin biofuel test
manufacturing near the end of the fourth quarter 2012 or beginning
of the first quarter of 2013.
Construction of the Company's first biofuel production plant at
its Groveland property is about 80
percent complete. It is expected to be finished in the fourth
quarter with commercial production anticipated to begin in the
first quarter of 2013 subject to permitting. Initially, that plant
is designed to produce 3.6 million gallons of biofuel per year.
As stated previously, the Company is actively evaluating next
generation, commercial biofuel production technologies to
substantially increase its production capacity in the first half of
2013. It is also actively working to source large scale, long term
biofuel feedstock supply contracts.
"We appreciate the diligence of Lake
County and the City of
Groveland throughout the complex process for permitting
biofuel manufacturing and sales at our Groveland headquarters," said Randall Lanham, Eco Ventures Group Chief
Executive Officer. "We look forward to working closely with
federal and state agencies to prepare for the Company's safe and
responsible commercial scale biofuel production in the months
ahead."
About Eco Ventures Group, Inc.
Eco Ventures Group, Inc. ("EVGI") is acquiring and developing a
family of ecologically friendly and economically sound businesses
committed to providing for society's energy and renewable resource
needs (www.ecoventuresgroup.com). The Company July 24 announced it had signed a definitive
agreement to acquire a majority stake in Energiepark Suptitz,
GmbH's ("EPS") diverse portfolio of alternative energy businesses
with closing expected later in the third quarter.
Safe Harbor Statement
Safe Harbor statement under the Private Securities Litigation
Reform Act of 1995: EVGI encourages those interested in our
Company to rely only on information included in our filings
with the United States Securities and Exchange Commission which can
be found at www.sec.gov. Statements released by Eco
Ventures Group, Inc. that are not purely historical are
forward-looking within the meaning of the "Safe Harbor" provisions
of the Private Securities Litigation Reform Act of 1995, including
statements regarding the company's expectations, hopes, intentions,
and strategies for the future to include all those of its intended
acquisition of Energiepark Suptitz, GmbH. Investors are cautioned
that forward-looking statements involve risk and uncertainties that
may affect the company's business prospects and performance. The
company's actual results could differ materially from those in such
forward-looking statements. Risk factors include but are not
limited to general economic, competitive, governmental, and
technological factors as discussed in the company's filings with
the SEC on Forms 10-K, 10-Q, and 8-K. The company does not
undertake any responsibility to update the forward-looking
statements contained in this release.
Contact
Eco Ventures Group, Inc.
7432 E. Highway 50, Suite 101
Groveland FL 34736
Phone: (352) 557-4830
Email: info@ecoventuresgroup.com
Investor Contact:
Mirador Consulting
Frank Benedetto
Tel: (561) 989-3600
SOURCE Eco Ventures Group, Inc.
