REGINA, Saskatchewan, Dec. 15, 2010 /PRNewswire-FirstCall/ -- Clean Power Concepts Inc. ("Clean Power", or the "Company") (OTC Bulletin Board: CPOW) - today announced its operating subsidiary General Bio Energy ("General Bio") is on target to reach sales forecasts and complete the fiscal year by more than doubling revenue over last year.
General Bio operates a fully integrated commercial oilseed crushing, bio-diesel refinery, and environmental lubricants manufacturing and bottling plant in Regina, Saskatchewan. The focus of the business continues to be on canola.
For the six month period ended October 31, 2010, the Company today reported total revenues of US$443,071 versus US$190,016 for the same period last year.
"Our impressive results so far in 2010 include a 12 fold increase in canola oil sales and a 100% increase in sales of canola meal," said Mike Shenher, President and CEO. "In the years to come, Clean Power Concepts will seek to extend our market in oil sales into other countries with an aim to double our revenues each year."
Shenher further commented, "Our core oil business will continue to drive our growth. At the same time, we'll continue to expand our branded manufacturing business, further leveraging the diversity of our balanced business model."
Canada's canola industry adds over $13 billion in economic activity to the Canadian economy. Depending on the year, canola is either Canada's first or second most valuable field crop (the other is wheat).
The worldwide demand for Canola is soaring. The low level of saturated fats and wide range of functionality has made canola oil a popular option for food services looking to decrease trans fats in their food manufacturing. As well, biodiesel produced from canola is a proven, renewable clean burning fuel source that is supplying an increasing amount of energy in Europe and the U.S.
"All of us at Clean Power are enthusiastic about what has been achieved thus far in 2010 and what we'll be able to accomplish in the next five years, and in particular about the value we expect to create for all of our stakeholders," concluded Shenher.
About Clean Power Concepts Inc.
Clean Power Concepts Inc. was incorporated in Nevada on October 17, 2005 and trades on the OTC-BB under the symbol CPOW. To implement expansion of our business in the environmentally friendly green energy industry we acquired 95.1% of General Bio Energy Inc. based on a share exchange concluded on April 29, 2010. General Bio was incorporated in Saskatchewan, Canada on February 14, 2006 and operates a fully integrated commercial oilseed crushing, bio-diesel refinery, and environmental lubricants manufacturing and bottling, and nutraceutical and food processing plant in Regina, Saskatchewan. The current plant has a crush capacity of 19.7 million liters of crushed oil annually. Its biodiesel fuel processor can produce up to 20 million liters of biofuel and biofuel additives and the crushing system can produce nearly 32.8 thousand metric tonnes of meal and protein related products for agricultural and aquaculture feedstock annually. The plant is capable of specialty and toll crushing a wide variety of oil seeds. General Bio's primary brand is: 'MOPO Environmental Lubricants' and other key trade names include: 'General Bio Health' and 'Spirit of Health', under which General Bio manufactures, distributes, and retails essential oils, camelina, canola, flax, and hemp, in various formats including capsules, gourmet cooking oils, and skin care formulations.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION Safe Harbour Statement under the Private Securities Litigation Reform Act of 1995
Certain information contained in this press release, including any information as to our strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements." All statements, other than statements of historical fact, are forward-looking statements. The words "believe," "expect," "will," "anticipate," "contemplate," "target," "plan," "continue," "budget," "may," "intend," "estimate," "project" and similar expressions identify forward-looking statements. In this press release, the expressions: "...is on target to reach sales forecasts and complete the fiscal year by more than doubling revenue over last year."; "In the years to come...will seek to extend our market in oil sales into other countries with an aim to double our revenues each year"; "Our core oil business will continue to drive our growth. At the same time, we'll continue to expand our branded manufacturing business, further leveraging the diversity of our balanced business model."; and "the value we expect to create for all of our stakeholders," are forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain cost adjustments and/or delays beyond the company's control with respect to bio energy manufacturing operations, changes in the worldwide price of agricultural commodities, crude oil, and/or certain other commodities; regulatory, legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with bio energy manufacturing operations or development activities; employee relations; transportation logistics; and the unpredictability of risks involved in the newly developing bio energy industry. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
SOURCE Clean Power Concepts Inc.