November 23, 2010
Clean Energy and Power, Inc. announced today that it has signed an Letter Of Intent (LOI) to acquire 100% of the assets of Pacific Oil Products which includes the proprietary technology needed to extract oil from the various oil producing feedstock and the management team that designed the equipment enabling the cost effective commercialization of oil extraction.
Pacific Oil Products is the worldwide distributor of J-model (Jatropha oil), A-model (algae oil) and P-model (palm oil) presses. Clients include the world's largest plant oil producer, the world's 3 largest Jatropha oil producers and the world's 2 largest algae oil producers.
"We have redesigned the extraction method of the base machine that is manufactured in Sweden and added our own proprietary technology to ensure quality and that maximum oil will be extracted properly and efficiently," stated David Gair, current president of Pacific Oil Products and now Chief Technology Officer for this new division of Clean Energy and Power. "We have sold many units worldwide and this has enabled us to become the leader in jatropha oil extraction. I am excited to be joining Clean Energy and Power and taking bio fuel extraction to the next level."
Mr. Gair continued, "Of renewable fuel oils, jatropha is the darling: it is non-edible, grows on wasteland, and produces both an excellent fuel and lubrication oil. It does not compete with food in any way and is not suitable to grow on land where food crops grow."
Jatropha is also one of the fastest-growing biomass plants on earth, biomass that is easily used for power generation and a nutrient source for algae.