HOUSTON, Sept. 5 /PRNewswire-FirstCall/ -- Houston Biodiesel, LLC, a
subsidiary of TexCom, Inc. (OTC Pink Sheets: TEXC), in preparation for
construction of a 35,000,000 gallon per year biodiesel plant in Seabrook,
TX, has entered into both a biodiesel merchandising agreement with Lansing
Ethanol Services, LLC and a feedstock originations agreement with Lansing
Trade Group, LLC. These agreements, both set to run for 4 years from the
completion of the construction of the plant in 2007, will couple Houston
Biodiesel's large physical production capabilities in a strong position in
the biodiesel industry with Lansing's strength in managing commodity price
risk, providing merchandising and logistics services, and its significant
presence in the biofuels marketplace.
Houston Biodiesel has significant advantages at its Seabrook location
just outside of Houston, including its tri-modal transportation
capabilities on inbound and outbound traffic for truck, rail and water
conveyance. The facility is located on the Houston Ship Channel "Refiners'
Row", which provides quality buyers for biodiesel. This plant will produce
biodiesel from soybean oil and other feedstock based on the most economic
source. The location of the facility also provides a key competitive
advantage in allowing Houston Biodiesel to be more flexible in the sourcing
and procurement of feedstocks for biodiesel production. Lansing strength as
a trading company will provide Houston Biodiesel with competitive
alternatives for inputs into the production of biodiesel.
TexCom has teamed with a strong equity partner in US Renewables Group
for the Houston Biodiesel, LLC plant. USRG has made significant investments
in bio-energy, including ethanol and biodiesel, and is working to provide
the advantage of scale to this industry.
"The biodiesel industry is experiencing a period of unprecedented
change that is creating an environment ripe for large scale production of
biodiesel that we hope to capture with this project and our future
expansion plans," said Lou Ross, CEO & President of TexCom, Inc. and
Manager of Houston Biodiesel, LLC. "We approached Lansing due to their
world class trading, marketing and logistics execution capabilities,
history of successful market development in Biofuels, and strong customer
focus. We see Lansing and its capabilities as key to our success with this
operation, as well as our significant expansion plan for the future."
Bill Krueger, President and CEO of Lansing, said, "Houston Biodiesel
has a very professional and engaged management team. They know what it
takes to develop a successful business model. We believe this team will
create a highly competitive and profitable biodiesel business with
opportunities for growth by developing additional plants after they are up
and running at this facility in Seabrook."
Lansing has been in the business of trading commodities for 76 years.
Rapid growth of its business over the past decade has come from responding
to market place needs. Notable is the formation of Lansing Ethanol Services
to respond to the need for a market maker in the ethanol market. The
services Lansing is providing to Houston Biodiesel under these agreements
are a direct extension of the trading skills which have been with the
company since its beginning. Lansing is actively trading a large number of
commodities from coast to coast, with a growing international presence.
About TexCom, Inc.
Headquartered in Houston, Texas, TexCom, Inc. is pursuing the
development of certain alternative energy related businesses and developing
them to their logical and full commercial potential. For more information,
please visit the company Web site at http://www.texcomresources.com .
Lansing Trade Group is a privately owned firm formed in 1931. The
current ownership group has grown Lansing into a national trading company,
growing beyond its grain roots with growth into the energy market. Lansing
Trade Group formed Lansing Ethanol Services, LLC in March '06 to trade
ethanol and other renewable fuels. Lansing Trade Group and Lansing Ethanol
Services trade whole grains, feed ingredients, and energy products in U.S.
domestic and export markets. Current annual revenues are approximately $2.7
billion. Company headquarters are in Overland Park, Kansas. Additional
information is available online at http://www.lansingtradegroup.com and
About U.S. Renewables Group
U.S. Renewables Group, LLC ("USRG") is an investment company
capitalizing on the fastest-growing segments of the $650B energy
marketplace. USRG acquires, develops and operates renewable stationary
power generation and clean fuel assets primarily in North America. USRG
operates nationally from headquarters in Los Angeles and offices in New
York. For more information, please visit the company Web site at
Statements contained herein and the information incorporated by
reference herein may be forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act").
Forward-looking statements can be identified by the use of forward-looking
terminology such as, but not limited to, "may," "will," "expect,"
"anticipate," "estimate," "would be," "believe," or "continue" or the
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Forward-looking statements include statements concerning plans,
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including, but not limited to, product and service demands and acceptance,
changes in technology, economic conditions, the impact of competition and
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assumptions, expectations, projections, intentions, or beliefs about future
events may, and often do, vary from actual results and the differences can
be material. Some of the key factors which could cause actual results to
vary from those TexCom expects include changes in natural gas and oil
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Our expectations, beliefs and projections are expressed in good faith
and are believed to have a reasonable basis, including without limitation,
our examination of historical operating trends, data contained in our
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assurance, however, that our expectations, beliefs or projections will
result, be achieved, or be accomplished. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of
the date hereof. We undertake no duty to update these forward-looking
Brad Barker, Houston Biodiesel, LLC, (713) 914-9193, firstname.lastname@example.org
Bill Krueger, Lansing Trade Group, LLC, (913) 748-3012,
SOURCE TexCom, Inc.