HOUSTON, Oct. 17, 2011 /PRNewswire/ -- BenchMark Energy
Corporation (OTC: BMRK). BenchMark Energy Corporation is
pleased to announce today that it has signed a definitive agreement
to acquire 49% of Energy Partners, LLC.
Energy Partners, LLC, founded in 2009, is an Indiana based renewable energy company and has
committed its focus in the bio-based energy sector. The
agreement calls for BenchMark to acquire a 49% minority interest in
Energy Partners, LLC, with an option to purchase the additional
51%. The additional interest purchase in Energy Partners, LLC
will be based on certain IRS tax criteria in 2012.
Energy Partners, which has approximately $750,000 in glycerin sales in the nine month
period ending September 30, 2011, is
in discussions with the city of Grand
Forks, North Dakota to build a 21,600 square foot, eight
acre glycerin processing facility. The facility and financial
terms were approved by the Grand Forks Growth Fund committee and
the Jobs Development Authority. Upon completion in middle
2012, the Company anticipates the facility to employ 29 full time
employees and have a capacity to process approximately nine million
(9,000,000) gallons of glycerin annually with an average value of
$1.80 per gallon.
The facility will have an exponential impact on the growth of
Energy Partners and BenchMark Energy. The Grand Forks site is
centrally located and would process glycerin from a number of
biodiesel plants within an approximate 800 mile radius.
The United States Renewable Fuel Standard mandates that 1
billion gallons of biodiesel are to be blended in the 2012 calendar
year. This will result in the production of approximately 100
million gallons of glycerin in 2012.
Burning fossil fuels accounts for about three-fourths of the
anthropogenic carbon dioxide emitted in the US. While all fossil
fuels contain carbon, coal is the most carbon-intensive.
Because electricity generation is the single largest
contributor to CO2 emissions and over half of the electricity
generated in the US is from coal, there is a pressing need to
develop viable carbon-control technologies, which can be
implemented in a practical and affordable manner. Glycerin blends
with coal are a quality and significant source to reduce
emissions.
In addition to the use of glycerin as a fuel source or blend
substituting coal and bunker fuel (crude oil, used in the rail and
shipping industries), glycerin is also a substitute for crude oil
and petroleum based products used in the manufacturing industries.
Glycerin significantly reduces the toxicity in every day
products.
For more information on Energy Partners, LLC, Glycerin, its uses
and benefits, and BenchMark Energy Corporation, please see our
website at http://www.benchmarkenergy.net. While the demand
for glycerin has remained stable, the demand for refined glycerin,
technical grade and higher, has risen. BenchMark Energy has
focused its attention on distribution and refinement of glycerin in
the energy and pharmaceutical industries.
Safe Harbor Statement: This press release contains
forward-looking statements as defined in The Private Securities
Litigation Reform Act of 1995 (the "Act"). In particular, when used
in the preceding discussion, the words "plan," "confident that,"
"believe," "scheduled," "expect," or "intend to," and similar
conditional expressions are intended to identify forward-looking
statements within the meaning of the Act and are subject to the
safe harbor created by the Act. Such statements are subject to
certain risks and uncertainties, and actual results may differ
materially from those expressed in any forward-looking statement.
Such risks and uncertainties include, but are not limited to, the
ability of BenchMark to complete the proposed acquisition(s), the
results of BenchMark's due diligence review of the candidate(s),
the success of the business of the acquisition candidate(s),
including the ability of BenchMark to continue to sell the
applicable products and the acceptance of those newly designed
products by the market, market conditions, the general acceptance
of the Company's products and technologies, competitive factors,
timing, and other risks described in the Company's reports and
filings.
Media & Investor Relations:
Alex Livak/ Robert Adams
Tel: 281-566-2582
Email: info@benchmarkenergy.net
http://www.benchmarkenergy.net
SOURCE BenchMark Energy Corporation