HOUSTON, Dec. 29 /PRNewswire-FirstCall/ -- TexCom, Inc. (OTC
Pinksheets: TEXC) held a groundbreaking ceremony on December 21 for its
Houston Biodiesel, LLC plant at the LBC Houston, LP terminal site in
"This terminal is ideally suited as our initial plant location. The
site affords us the capability to bring in our raw materials such as
soybean and other vegetable oils by vessel, barge or rail. The plant will
benefit from the fact the Houston Ship Channel is one of the nation's
leading ports in terms of the volumes of agricultural commodities that it
carries," said Lou Ross, C.E.O., of TexCom.
The facility will store petroleum diesel and be equipped to provide
fuel distributors with biodiesel/petroleum diesel blends such as B2, B5 and
B20 as well as pure biodiesel. The plant is expected to be online in
December 2007 producing 35 million gallons of B100 biodiesel annually.
TexCom and its equity partner, US Renewables Group, previously announced
execution of the engineering and construction contract for the Houston
Biodiesel facility with Lurgi, Inc. of Memphis and completion of project
financing with Stearns Bank of St. Cloud MN. Houston Biodiesel has entered
into agreements with the Lansing Trading Group of Overland Park, MO for raw
materials sourcing, risk management and hedging activities, as well as for
off-take of biodiesel product.
"Today is the result of a focused commitment that we made in 2004 to
enter biodiesel production. Through this facility and additional expansion
in the future, we plan to become a material factor in the domestic
biodiesel industry. We are creating jobs, reducing our nation's dependence
on fossil fuels, and producing a cleaner, more environmentally friendly
fuel here. Biodiesel is recognized as a critical part of the long-term
energy solution for America. A strong period of growth is ahead for those
companies that have shown the foresight to enter the space and the
capability to capitalize on the increasing demand for cleaner energy,"
About TexCom, Inc.
Headquartered in Houston, Texas, TexCom, Inc. is pursuing expansion in
biodiesel production and certain 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 .
About the LBC Group
LBC is the second largest tank storage company for chemical products
and related added value services in the world. Headquartered in Paris
(France), the group operates over 2.3 Million Cubic meters of storage
capacity at 12 locations in Europe and the USA. LBC is a fully owned
subsidiary of One Equity Partners, a JP Morgan Chase company.
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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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
prices, the timing of planned capital expenditures, availability of
acquisitions, uncertainties in estimating proved reserves and forecasting
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Our expectations, beliefs and projections are expressed in good faith
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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
Keith Fetter/Darren Bankston
SOURCE TexCom, Inc.