CITY OF INDUSTRY, CA–(Marketwired – May 11, 2016) – Earth Gen-BioFuel (OTC PINK: EGBB), “EarthGen” or “the Company,” confirmed its long-term goal of supplying the growing demand for “Clean Biodiesel” from Castor Beans. It is now very clear that air pollution has become a major health issue for many nations. The cost of human lives as a result of the need for clean air is becoming a worldwide priority as reflected in many countries establishing new stricter regulation of pollution causing transportation emissions.
The outlook for Castor Bean industry is very positive based on the growing demand as a feedstock for manufacturing, the need for clean fuel and good economics for growers and processors. The Brazilian Enterprise for Agricultural Research (EMBRAPA) reported that genetic improvements in Castor Beans have increased the oil content of the castor bean to 48 to 55 percent, while Soybeans, now used for the production of biodiesel in the US, produces just 17 percent oil. Just as important, Castor Beans are a non-food crop and is drought resistant. The cultivation of Castor Beans does not complete for land needed to grow much needed food supplies or for cooking oil.
Demand for Castor Beans just for manufactured product already far exceeds supplies. Brazil (a leader in bio-fuel utilization) reported castor bean oil demand of 300,000 tons more than supply or about US$300 million. It is the same in other regions of the world such as Japan, Thailand, and India where Castor Bean oil demand is reported to exceed supply by over 1,000,000 tons. US demand for castor bean oil is reported to exceed supply by approximately 100,000 tons or about US$120 million. Castor Bean oil demand in the European Economic Community is reported to exceed demand by 500,000 tons or about US$500 million. China demand is reported to exceed supply by 1,200,000 tons or about US$1.3 billion.
According to an exhaustive study by the medical journal Lancet, an estimated 3.2 million people died prematurely in 2010 because of the poisonous effects of outdoor air pollution. The report stated that two-thirds of those killed by air pollution lived in Asia. Outdoor air pollution has become India’s fifth highest killer, with only tobacco, high blood pressure, indoor air pollution from poorly ventilated stoves, and diets that lacking in fruit and vegetables kill more people.
Recent news stories about air pollution have focused on Mexico City where drivers are limited on how many days a week they are allowed to use their cars. China’s major cities Shanghai and Beijing continue to report high levels of air pollution. The primary sources of pollutants include exhaust emission from Beijing’s more than five million motor vehicles. However, the World Health Organization ranks Beijing as having the 76th worst air pollution with New Delhi ranked #1.
Hindu and Business Line, an India domiciled global publication reported that on May 10, 2016, that New Delhi is joining other global cities with very high pollution to ban the use of high polluting vehicles for public transportation. India Government regulations were confirmed on May 10th by the India Supreme Court, who only tweaked the new Government Law that was a blanket ban on diesel fueled taxis. The Court amended the law to make it clear that the final objective is a gradual phase-out of diesel taxis. There are approximately 24,000 taxis operating in and around New Deli. The court ordered that registration of city taxis is permissive only if these vehicles run on cleaner fuels. It was also reported that, no new dirty diesel fuel city taxis will be permitted, and the court urged the government to frame suitable laws regarding taxi operations with a premium on environment.
EarthGen believes that based on import demands from the major industrial countries and the need of chemical manufacturing based on Castor Bean oil as a feedstock, that the market demand for Castor Beans already greatly exceeds current production. EarthGen’s is poised to benefit from the world wide trend for replacing hydrocarbon fuels with less polluting alternatives.
Earth Gen-Biofuel Inc., a U.S. based international agribusiness company is cultivating Castor Bean farms in Southeast Asia. Castor Beans are a renewable resource as a non-food agricultural product used in manufacturing clean transportation fuel, and utilized in over 700 manufacturing processes. EarthGen’s goal is to become one of the world’s largest growers of Castor Beans. Our first operation includes 600-acres of Castor Bean farms in Laos, with a full-scale harvest scheduled for year-end 2016. The Company plans to expand Southeast Asia operations to 4,000 acres over the next two-years, which is expected to make Earth Gen one the largest operators in the area. Worldwide demand continues to grow, due to high demand for manufactured products using Castor Bean oil and the crops value as a renewable “energy crop.”
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that such forward-looking statements involve risks and uncertainties, which include among others, the inherent uncertainties associated with smaller reporting companies, including without limitation, other risks detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission.
Hayden Financial Corp.