July 02, 2007 07:30 ET

Blue Diamond Ventures and Texas A&M Form Biofuels Research Alliance -- University to Serve as Technical Assistant Partner in Belize Biodiesel Project

HOUSTON, TX--(Marketwire - July 2, 2007) - Blue Diamond Ventures, Inc. (PINKSHEETS: BLDV) announced today it has formed a strategic alliance with Texas A&M University, whereby the University will serve as its technical assistance partner in Belize.

"We are delighted that private industry, and Blue Diamond in particular, is very active in searching for alternative sources of energy," said Dr. Gerald Riskowski, professor and department head of the Department of Biological and Agricultural Engineering. "Texas A&M University wants to develop collaborative efforts to help utilize bioenergy for the benefit of society."

Recognized as having one of the leading and largest biological and agricultural engineering departments in the country, the University will assist Blue Diamond with the production and conversion of non-food crops for manufacturing biofuels.

The research initiatives will also focus on various technology advancements, identifying, assessing, cultivating and optimizing production of second generation energy feedstocks for cellulose and bio-oils, characterizing and optimizing the design of dedicated bioenergy crops and developing integrated logistics systems associated with the harvest, transport, storage and conversion of bionergy crops.

"We will be producing a product in accordance with international fuel standards, and this requires having the best minds and most efficient technology to achieve our goals," said Blue Diamond Chief Executive Officer John Quincey Moaning. "We are delighted to have one of the country's leading biofuels institutions as a partner."

Blue Diamond has a Memorandum of Agreement with the Texas Agricultural Experiment Station (TAES).

About Blue Diamond Ventures, Inc.: Blue Diamond Ventures, Inc. (www.bluediamondventures.com) is an agriculture, biofuels and commercial development company with operations in Belize and the U.S.

DISCLOSURES:

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in Blue Diamond Ventures, Inc.'s filings with the Securities and Exchange Commission. These risks could cause Blue Diamond Ventures, Inc.'s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Blue Diamond Ventures, Inc.