HOUSTON, Oct. 30 /PRNewswire-FirstCall/ -- TexCom, Inc. (OTC
Pinksheets: TEXC) announced today that it has executed its Engineering,
Procurement & Construction contract with Lurgi PSI to build a 35 million
gallon per year Biodiesel Plant for TexCom subsidiary Houston Biodiesel,
LLC, in Seabrook, Texas.
Lurgi will initiate construction process steps immediately, including
final engineering and procurement activities.
TexCom anticipates that a formal groundbreaking ceremony will be set
within 30 days.
The Seabrook plant, located at the LBC Houston, LP terminal, includes
the capability to store conventional petroleum diesel, allowing TexCom to
blend and market B20 and other biodiesel blends as well as B100. Refined
vegetable oil feedstock will be brought in via barge or rail to the site,
located on the Houston Ship Channel, to produce the renewable fuel.
This facility is the first of several Biodiesel production sites that
TexCom currently plans to build and operate in the south central United
States. Lurgi PSI, based in Memphis, Tennessee, is recognized as a
worldwide leader in the design and construction of Biodiesel facilities,
having completed numerous facilities in Europe and recently a plant in Iowa
similar in size to the Houston Biodiesel plant.
Louis Ross, C.E.O. of TexCom stated, "Executing this EPC contract
cements certain critical elements of plant construction for us including
completion dates and guaranteed performance statistics for the plant. We
will now move forward to tie down additional operational metrics including
contracts for raw materials and finished goods. Additionally, we have
completed an involved pre-finance underwriting and contracting process that
we expect will allow TexCom to proceed more quickly for development of our
subsequent biodiesel projects at other sites."
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 or call
713-914-9193 for Bill Pettinati.
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
negative or other variations of comparable terminology. We intend such
forward-looking statements to be covered by the safe harbor provisions
applicable to forward-looking statements contained in Section 21E of the
Exchange Act. Such statements (none of which is intended as a guarantee of
performance) are subject to certain assumptions, risks and uncertainties,
which could cause our actual future results, achievements or transactions
to differ materially from those projected or anticipated.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events, or performance and underlying
assumptions and other statements, which are other than statements of
historical facts. These statements are subject to uncertainties and risks
including, but not limited to, product and service demands and acceptance,
changes in technology, economic conditions, the impact of competition and
pricing, and government regulation and approvals. TexCom cautions that
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
production results, operational factors affecting the commencement or
maintenance of producing wells, the condition of the capital markets
generally, as well as our ability to access them, and uncertainties
regarding environmental regulations or litigation and other legal or
regulatory developments affecting our business.
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
records and other data available from third parties. There can be no
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
SOURCE TexCom, Inc.