HOUSTON, Oct. 10, 2011 /PRNewswire/ -- BenchMark Energy Corporation (OTC: BMRKD). BenchMark Energy Corporation is pleased to announce today that it has completed the merger and plan of reorganization with Optical Systems, Inc.
BenchMark Energy and Optical Systems, Inc. effected a merger by and between the two corporations on Sept 14, 2011, whereby leaving BenchMark Energy Corporation as the surviving entity. Optical Systems, Inc., now Benchmark Energy Corporation is trading with a temporary trading symbol of BMRKD. As of October 13, 2011 BenchMark Energy Corporation will be traded and recognized as BenchMark Energy Corporation with a permanent trading symbol of BMRK. www.benchmarkenergy.net
BenchMark Energy Corporation is a leading provider of a Green Renewable Energy Source, glycerin. Pure glycerin, a colorless, odorless, viscous liquid is an organic bio-degradable compound widely used in the energy, pharmaceutical, and personal care product industries. Glycerin, a result of trans-esterification of biodiesel, accounts for nine percent (9%) of the unrefined biodiesel produced. The rise in biodiesel production as a renewable fuel over the recent years sources an abundance of off-grade glycerin. This grade of glycerin, also referred to as crude glycerin, is approximately 60% to 80% pure. Biodiesel produced glycerin is called crude glycerin or industrial grade glycerin, containing water, methanol, fatty acids, biodiesel and other trace chemicals, including matter organic non-glycerol (MONG). This grade of glycerin has numerous applications in the coal, marine, mining, oil & gas, and other energy sub-sectors.
Additional glycerin applications include the food and beverage industry where it serves as a humectant, solvent, and sweetener. Glycerin is also used as a filler in commercially prepared low-fat foods and as a thickening agent. In the medical and pharmaceutical sector, glycerin is widely used as a means to provide smoothness, providing lubrication and as a humectant. It used in toothpaste, cough syrup, elixirs, expectorants, mouthwash, soap, and numerous other personal products.
While the demand for glycerin has remained stable, the demand for refined glycerin, technical grade and higher, has risen. BenchMark Energy has focused its attention on distribution and refinement of glycerin in the renewable fuel and energy sectors.
Safe Harbor Statement: This press release contains forward-looking statements as defined in The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties, and actual results may differ materially from those expressed in any forward-looking statement. Such risks and uncertainties include, but are not limited to, the ability of BenchMark to complete the proposed acquisition(s), the results of BenchMark's due diligence review of the candidate(s), the success of the business of the acquisition candidate(s), including the ability of BenchMark to continue to sell the applicable products and the acceptance of those newly designed products by the market, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's reports and filings.
SOURCE BenchMark Energy Corporation