Vega Biofuels Secures Interim Financing For Green Energy Bio-Coal

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NORCROSS, Ga., -- VEGA BIOFUELS, INC announced today that the Company has secured the necessary funding to proceed with its plan to build a green energy bio-coal manufacturing plant in Cordele, GA.
Vega has entered into a Loan Agreement with a group of its existing shareholders that will provide the Company with the necessary funding needed for various expenses associated with the design and construction of the proposed South Georgia manufacturing plant. Funding is in the form of a five hundred thousand dollar line of credit and allows the Company to draw on those funds as needed moving forward.
Vega recently announced plans to build a manufacturing plant in South Georgia that when completed will produce green energy bio-coal for use in existing coal fired power plants around the world. The manufacturing plant will be located in Cordele, Georgia.
"This is a very important first piece of our overall funding plan," stated Michael K. Molen, Chairman/CEO of Vega Biofuels, Inc. "There are a lot of expenses associated with the planning and development of a project of this magnitude. First funds are always the most difficult to find. These funds will allow us to move forward with our plans without having to dilute our securities by conducting a Private Placement. We appreciate the confidence our shareholders have in what we are doing. We will have more information concerning additional funding for the project as we move forward."
The Company made the decision to locate the biomass manufacturing plant in Crisp County after members of it management team met with the Crisp County Industrial Development Council (IDC) earlier this year to discuss their assistance with locating a site for the plant, tax abatements, and various job credits available to Vega if the Company located its plant in their county.
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The Benefits Of Using Renewable Biofuels

An alternative to using traditional fossil fuels for powering diesel engine vehicles and heating homes that is growing in popularity is biofuel. Biofuel is a renewable energy source as it consists of agricultural products like soybeans. It can also be made from WVOs (also known as Waste Vegetable Oils) and is often found discarded in restaurants, making it a readily available resource in most areas. Whatever the materials renewable biofuels is made of, the benefits of using this alternative fuel source is tremendous.

With gas prices rising higher and higher at the pumps, it is no wonder that citizens are contemplating a substitute fuel source. There are benefits to using biodiesel blends that employ as little as five percent of biofuel mixed with diesel. Just a small change like that can offer a significant price reduction in fueling your vehicle. Blends range from one percent and can go as high as ninety nine percent biodiesel mixed with one percent petroleum diesel. The mixes are marked with a "B" and the percentage of how much biofuel is contained within the blend. There is also B100 available, which is a pure renewable biodiesel. These are all effortless to utilize, non-toxic and biodegradable.

Using any blend of renewable biofuels greatly reduces your impact on the environment and lightens your carbon footprint. The air quality is helped considerably by the biofuel burning cleaner than traditional fossil fuels. Renewable biofuels do not contribute to the pollution caused by burning diesel fuel. This pollution in turn has been linked with health problems associated with lung cancers, respiratory illnesses, allergies and asthma attacks.

In some cases, heart and respiratory disorders have resulted in death from the impact diesel pollution has made. Another benefit to using renewable biofuel energy is the reduction of life cycle emissions and greenhouse gasses. With a reduction in global warming, the effects of our heated planet could start to reverse and in turn protect us and future generations from one of the biggest threats that Earth faces.

Another big benefit of switching to renewable biofuels is the resulting freedom and independence from foreign oil sources. By relying on a domestic fuel source, the need to borrow money to import oil can be eliminated. And another result of cutting off foreign oil trade is the creation of a new job market. With hundreds of thousands of jobs generated across the country, the recent economic downturn could be righted. The agricultural field and rural development could also see stimulation.

From clean energy to green technology, Alexander Sutton is involved with a number of green endeavors and wishes to spread awareness about environmentally friendly issues. For more information, please visit Renewable Biofuels.

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