SANTA CLARITA, Calif., July 30, 2012 /PRNewswire/ -- U.S. ENERGY INITIATIVES CORP (USEI.OTC) today announces that it is ready to begin shipments of its fuel. The product is branded Singular 96™.
According to Anthony Miller, CEO, "our partnership has raised sufficient capital to begin shipments of our fuel and we are scheduling to ramp- up shipments to 24 loads per week, within 3 weeks to fulfill our existing contract (which totals $150 million). U.S. Energy Initiatives is the managing partner of the venture. Singular 96™ is an enhanced energy feedstock blended with methanol and gasoline. The product is manufactured in the United States and exported to Canada. The Environmental Canada's Oil, Gas and Alternative Fuel Division (similar to the US EPA) has no regulations prohibiting or limiting the use of methanol blends in transportation fuels; our first client is a group of 20 Federated Independent Stations (FIS) that are located outside of Montreal, Quebec. This is an amazing milestone for USEI and we believe as a result of this business we can become profitable before year-end." Additional information regarding our progress will be released over the coming weeks; further noted Miller.
About Singular: Singular 96™ is a fuel product designed to replace the current formulation of gasoline. The proprietary patent-pending gasoline replacement product was developed over several years. The product is sold under the trade name Singular 96™. The benefits of Singular 96™ include use in both Flex Fuel vehicles and vehicles that use unleaded gasoline.
About U.S. Energy Initiatives
The Company has two separate energy initiatives; one in the automotive sector and one in the oil, gas & technology sector. We will continue to develop and market our automotive technologies which we have done since 1996; and focus on our new Singular 96™ hybrid fuels.
We will also acquire and develop stranded or un-recovered oil properties for enhanced oil production, create partnerships with operators, create strategic alliances for primary and secondary recovery, and partner with farm-ins on properties where technology will be utilized to improve recovery efforts. Our goal here is to become an environmentally responsible oil and gas company; utilizing all methods available to improve oil recovery.
We will market all of our products to a worldwide market to produce significant revenue and add value for our shareholders.
DISCLOSURES: "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release may contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in the Company's filings with OTCMarkets.com and as required to the Securities and Exchange Commission. These risks could cause AM Oil's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company.
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SOURCE U.S. Energy Initiatives Corp