March 10, 2008 10:30 ET
PetroSun Set to Commence Operations on Its Initial Commerical Algae-to-Biofuels Farm
SCOTTSDALE, AZ--(Marketwire - March 10, 2008) - PetroSun, Inc (PINKSHEETS: PSUD) announced
today that its initial commercial algae-to-biofuels farm is scheduled to
commence operations on April 1, 2008. The farm is located on the Texas Gulf
Coast near Harlingen, Texas.
PetroSun Biofuels, Inc., a wholly owned subsidiary of PetroSun, Inc., will
operate the 1,100 acre salt water open pond system. There are currently 94
five-acre and 63 ten-acre ponds on the 1,831 acres contained within the
algae farm operation. The company will extract the algal oil on-site and
transport the raw product via barge, rail or truck to company owned or
joint ventured biodiesel refineries. The residual algae biomass will be
converted into ethanol or other products.
PetroSun will conduct algae-to-jet fuel and algae-to-bioplastics research
and development projects supported by a supply of algal oil produced from
this operation. For an aerial view of the farm, please click on the
PetroSun's operations include oil and gas exploration, development and
production and algae-to-algal oil alternative fuels production. The oil and
gas division is focused on the exploration of the Holbrook Basin of
Arizona, the San Juan Basin of New Mexico and Australian based prospects.
The Company will continue the development of oil and gas reserves in
Louisiana. The alternative fuels division has entered the commercial stage
of its algae-to-biofuels production technology. The Company will commence
operations on its initial commercial algae farm and algal oil extraction
plant near Harlingen, Texas on April 1, 2008. Future farms and extraction
plants are planned in Alabama, Arizona, Louisiana, Mexico, Brazil and
Australia during 2008. The algal oil product will be provided as feedstock
to company owned or joint ventured biodiesel refineries. PetroSun is
headquartered in Scottsdale, Arizona with field offices in Shreveport,
Louisiana and Opelika, Alabama. For more information about PetroSun visit
the company's website at www.petrosuninc.com.
Except historical matter contained herein, matters discussed in this news
release are forward-looking statements and are made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements reflect assumptions and involve risks and
uncertainties, which may affect the Company's business and prospects and
cause actual results to differ materially from these forward-looking