KREIDO BIOFUELS INC
otcstockexchange.com: KRBF - OTCStockExchange.com Stock Alert
1/31/2007
Kreido Biofuels, Inc. (OTCBB: KRBF - http://finance.yahoo.com/q?s=KRBF.OB )
Kreido Laboratories, a privately held alternative energy company, today announced the completion of a reverse merger with publicly held company Gemwood Productions, Inc. The Company, which will operate under the name Kreido Biofuels, Inc., is now listed on the OTC market and will pursue Kreido Laboratories' renewable energy and process intensification business. In contemplation of the merger, Kreido Biofuels completed a $25 million private placement of common stock and warrants to a group of institutional and accredited investors.
"Substantial investments in our private placement from several premier institutional investors, plus the continued strong support of our existing investors, have given us access to both capital and strategic introductions that will position the Company for rapid growth and accelerated time to market," said Dr. Joel Balbien, President & CEO. "Further, the public listing of our securities will help us gain mindshare as a leader in alternative fuels and process intensification technology, and facilitates our international licensing efforts."
Kreido Biofuels, Inc. will develop, own, and manage biodiesel plants, market biodiesel, and license its advanced process intensification technology. Through the application of its novel patented STT reactor system, the Company can rapidly switch between alternative vegetable oil feedstocks within a cost-effective minimal-footprint plant. The STT technology is also being applied by Licensees and partners to the development and commercialization of other chemical products -- including "Green Solvents" and small molecule pharmaceuticals -- where it has the potential to increase yields, enhance selectivity, and significantly shorten time to market.
Kreido has invested over $20 million developing its patented STT reactor system. The Company's technology can rapidly scale a number of chemical processing recipes, including unique formulas for soy, canola, and palm biodiesel, from "Pounds per day" to "Tons per day" of continuous production. Over ninety-five percent of existing biodiesel plants employ a variation of the traditional transesterification process. According to COO, Ben Binninger, "We offer a way to significantly reduce the cost of processing, as well as accelerate time to market." Kreido Biodiesel is currently developing three biodiesel production facilities located in the mid-west and southeast with a combined production capacity of over 100 million gallons of biodiesel per year. Kreido Biodiesel is concentrating its plant construction in existing liquids handling facilities located on deep water ports, where there is storage and transportation infrastructure, potential for rapid permitting, and access to multiple feedstocks and fuel distributors. The Company expects the first plant to be operational in 2007 and the balance of the plants in 2008.
