TAMPA, FL -- (MARKET WIRE) -- 09/19/07 -- EarthFirst Technologies, Incorporated
("EarthFirst" or "the Company") (OTCBB: EFTI) announced today that
Renewable Carbon Technologies, LLC ("RCT"), a joint venture between
EarthFirst and Orion Industrial Services ("OIS"), has entered into a
Memorandum of Understanding ("MOU") with Phoenix Energy Systems, Inc.
("Phoenix"), to deliver ten Catalytic Activated Vacuum Distillation
("CAVD") plants in the Caribbean basin and the European Union.
The detailed MOU calls for the parties to finalize a Master License
Agreement that will become effective after demonstration of the Mobile,
Alabama plant. Upon execution of the Master License Agreement, Phoenix has
agreed to order a CAVD unit for the continuing development of its "Energy
Island" in Kingston, Jamaica. Construction of the Kingston unit could begin
as early as March 2008.
Randy L. Thomas, Phoenix's CEO and President, signed the MOU after
receiving a financial commitment from an international bank for its
Kingston Energy Island. Phoenix intends to incorporate other proven,
high-tech, award-winning waste-to-energy technologies into Energy Island
(see www.phoenixenergysystems.com).
Mr. Thomas stated, "We are all systems go for our one stop waste-to-energy
project. We will employ multiple cutting-edge technologies to recover
energy from a variety of waste streams that are generated on the island of
Jamaica. Our ability to de-construct (de-polymerize) tires is an important
part of our processing capability on this project and we are pleased to
have chosen RCT's CAVD as our tire remediation module. We studied RCT's
CAVD process and all major industry competitors and concluded that the
RCT's CAVD is the best available technology to integrate with our
waste-to-energy process and the CAVD proprietary method of de-constructing
tires will soon become a day in, day out commercial reality. In
conclusion, we believe that RCT's CAVD will produce high-value commodity
by-products that are beneficial to our process, will reduce our electric
demand and carbon footprint, without producing any of the harmful emissions
that are associated with the manufacture of similar virgin products."
John Kateon, RCT's managing member, was pleased with Phoenix's selection of
the CAVD technology saying, "The Phoenix MOU validates the OIS commitment
to partner with EFTI in finalizing CAVD development. We have built on
EFTI's vision by adding our own pyrolysis intellectual property and
experience. The Phoenix transaction should be just the first step in the
proliferation and mainstream acceptance of the CAVD technology and I am
hopeful that after final proof of concept in Mobile, scores of CAVD
facilities will spring up around our country and the world and helping to
finally solve the nagging problem of waste tire disposal."
About EarthFirst
EarthFirst, www.earthfirsttech.com, is a specialized holding company
engaged in researching, developing and commercializing technologies for the
production of alternative fuel sources and the destruction and/or
remediation of liquid and solid wastes, and in supplying electrical
contracting services to commercial and government customers
internationally. Through its subsidiary World Environmental Solutions
Company (WESCO), EarthFirst markets solid waste remediation plants
utilizing a proprietary Catalytic Activated Distillation (CAVD) process,
which is a superior technology developed by EarthFirst to recycle rubber
tires and other waste by heating the material without burning it. Through
its subsidiary Electric Machinery Enterprises, Inc., www.e-m-e.com, the
Company provides electrical contracting services both as a prime contractor
and as a subcontractor, electrical support for industrial and commercial
buildings, power generation stations, and water and sewage plants in the US
and abroad. Through its subsidiary, SolarDiesel Corporation, the Company
is primarily focused on facilitating commercial scale production and
distribution of biofuels produced from palm oil.
Investors are cautioned that certain statements contained in this document
as well as some statements in periodic press releases and some oral
statement of EFTI officials are "Forward-Looking Statements" within the
meaning of the Private Securities Litigation Reform Act of 1995 (the
"Act"). Forward-looking statements include statements which are predictive
in nature, which depend upon or refer to future events or conditions, which
include words such as "believes," "can," "anticipates," "intends," "plans,"
"expects," and similar expressions. In addition, any statements concerning
future financial performance (including future revenues, earnings or growth
rates), ongoing business strategies or prospects, and possible future EFTI
actions, which may be provided by management, are also forward-looking
statements as defined by the Act. Forward-looking statements involve known
and unknown risks, uncertainties, and other factors which may cause the
actual results, performance or achievements of the Company to materially
differ from any future results, performance, or achievements expressed or
implied by such forward-looking statements and to vary significantly from
reporting period to reporting period. Although management believes that the
assumptions made and expectations reflected in the forward-looking
statements are reasonable, there is no assurance that the underlying
assumptions will, in fact, prove to be correct or that actual future
results will not be different from the expectations expressed in this
report. These statements are not guarantees of future performance and EFTI
has no specific intention to update these statements.
CONTACT:
Beverly Mercer
813-865-1122
Market News First - News Agent
Angela Junell
214-461-3411 ajunell@MN1.com