ST. LOUIS, MO -- (MARKET WIRE) -- 06/19/08 -- CleanTech Biofuels, Inc. (OTCBB: CLTH), the developer of a revolutionary waste-to-fuel cellulosic ethanol technology system, voiced its support for the increased focus and attention that both Barack Obama and John McCain have given to a national energy policy and the impact of global climate change. Both candidates have vowed to mitigate carbon dioxide emissions and bolster domestic renewable energy investments.
CleanTech's technology addresses both of these issues by producing ethanol locally using waste that would otherwise end up in landfills. CleanTech's technology will significantly reduce the amount of methane and other dangerous greenhouse gases created by disposing of waste in landfills while simultaneously creating a renewable source of fuel locally. CleanTech is currently evaluating the impact that its technologies will have on carbon emissions to understand the potential benefit to its business from recent proposals by Presidential candidates and members of Congress.
Earlier this month, Republican nominee Senator John McCain launched his November election campaign by vowing to free America from dependence on foreign oil and cited his plans to cut emissions and fight global warming, which is a welcome paradigm change from the current administration's energy policy. Democratic nominee Senator Barack Obama also announced his support of plans to cap U.S. greenhouse gas emissions.
"The political tides are changing to the benefit of companies such as ours that offer sustainable clean energy solutions and sequester carbon dioxide (CO2)," stated Ed Hennessey, CEO of CleanTech Biofuels. "On the Congressional level, the climate change bill sponsored by Senators Joe Lieberman, John Warner and Barbara Boxer has been praised as one of the most important pieces of legislation in a long time." He went on to say: "Both Presidential nominees of their respective political parties, Senator McCain and Senator Obama, are in favor of carbon dioxide emissions regulation. We heartily support their efforts."
Although CleanTech's current business strategy does not depend on governmental legislation for commercial success, the passing of any form of legislation that would regulate carbon dioxide emissions could instantly open up a massive new revenue source further bolstering its business. In addition, the United States Carbon Credit Marketplace being proposed by both Presidential candidates may facilitate the added benefit for CleanTech Biofuels to sell carbon credits created by their processing of municipal waste into ethanol fuel which mitigates carbon dioxide emissions to help finance development of commercial plants.
COO of CleanTech Biofuels, Michael Kime, commented further to say: "We are in full support of these legislative efforts. It is possible that a successful bill may take a different shape than the current Senate proposal, but we believe that serious political action is highly likely to occur no later than early next year. Either way, active deliberation of this legislation is favorable for CleanTech Biofuels."
"It is such an exciting time to be living and working in this industry," continued Mr. Kime. "Since announcing our preliminary data earlier this month, we have received numerous inquiries from very promising prospective business partners which we expect could be announced in the coming weeks and months. The outlook is exceptionally encouraging. There aren't many entrepreneurial opportunities in a person's lifetime where one can create great value while serving a noble cause. John Doerr, the legendary Silicon Valley venture capitalist, stated it well when he said that stopping global climate change is the largest economic opportunity of the 21st century, and a moral imperative. We agree and are thrilled to help meet this challenge."
About CleanTech Biofuels, Inc.
CleanTech Biofuels, Inc. is developing a set of technologies that, when combined, are capable of converting municipal solid waste into ethanol. Their unique technology package positions them to be the industry leader in using municipal solid waste (MSW) as the primary feedstock for energy production. Municipal Biorefineries developed with our technology will:
-- Reduce the costs of transporting waste long distances for disposal. -- Dramatically reduce pollution released the disposal of municipal solid waste. -- Reduce the amount of material going into landfills by as much as 85 percent. -- Increase the amount of recyclable materials that can be recovered from municipal solid waste. -- Generate biofuels and other usable energy products at competitive prices.
By using the existing infrastructure for municipal solid waste collection and disposal to collect biomass at a low or negative feedstock cost, CleanTech will achieve profitability quickly relative to other cellulosic ethanol producers who must develop their infrastructure to collect and transport more expensive feedstocks such as switch grass, wood waste, or corn stover. Moreover, biomass derived from garbage will not be subject to increases in commodity prices that plague producers currently manufacturing ethanol from corn. If you would like to receive e-mail announcements about CleanTech Biofuels, Inc., additional information, or to contact a representative directly, please visit us on the web at http://www.cleantechbiofuels.net or www.avcg.net/CLTH.
Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development, and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports.