Sloud, Inc. Acquires SouthWest BioFuels
TUCSON, Ariz., Nov. 29, 2011 /PRNewswire/ -- Sloud, Inc., (Pink Sheets: SLOU) announced today that the company has acquired SouthWest BioFuels, Inc., a Tucson Arizona based, development stage company focused on the research and development of algae based bio fuels and related biomass products. The SouthWest BioFuels team is currently working on a proprietary model for the rapid delivery of the high demand of algae through higher concentrations at their own algae farms. Most importantly, SouthWest BioFuels is providing biofuel units for people who wish to operate and own their own biofuel farm so that they can provide fuel for their own vehicles or equipment at a low cost with minimal time and maintenance commitment.
To better reflect the new direction of the company, Sloud will ultimately change its name to SouthWest BioFuels. In addition, the company has accepted the resignation of Gene Sokolov and appointed SouthWest BioFuels' CEO Rick Jimenez CEO of Sloud. The company initiated this change in direction based on market conditions as well as the developing opportunity in the clean energy market space.
Rick Jimenez, CEO of Sloud stated, "I am honored to accept the role of CEO for this exciting and innovative company. We have worked very hard to build SouthWest BioFuels into a viable business and taking this next logical step to become a publicly traded company is in line with our growth plans. We will work tirelessly to continue to build value for our shareholders and further develop our products so that we can reach large scale production in a reasonable amount of time."
About SouthWest BioFuels
The SouthWest BioFuels team is currently working on a proprietary model for the rapid delivery of the high demand of algae through higher concentrations at their own algae farms. Most importantly, SouthWest BioFuels is providing biofuel units for people who wish to operate and own their own biofuel farm so that they can provide fuel for their own vehicles or equipment at a low cost with minimal time and maintenance commitment. For more information, please call.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
SOURCE Sloud, Inc.
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