DALLAS, Feb. 9 /PRNewswire-FirstCall/ -- Evolution Fuels, Inc. (Pink Sheets: EVFN) (the "Company") today announced that it has executed a lease agreement with J&J Developments, Inc. ("J&J") for a truck stop located in Mountainburg, AR.
The truck stop, which will be operated under the Company's subsidiary, Legends Travel Centers, is located at 901 Highway 282 SW in Mountainburg, which is just off of Interstate 540, approximately 20 miles south of Fayetteville, AR. Under the terms of the lease, Evolution Fuels will assume operations of the truck stop on February 15, 2010. The Company plans to re-image the truck stop over the course of the next 30 days, and to offer a blend of biodiesel at the truck fuel pumps as soon as possible.
This location adds the state of Arkansas to its region of locations for the planned rollout of renewable fuel stations over the next few months.
As part of its overall strategic plan, the Company has formed an alliance with J&J, a premier commercial real estate developer with a strong focus on fuel stations, convenience stores, and truck stop travel plazas. This alliance extends Evolution's planned rollout region to the states of Kansas and Arkansas, and helps to expedite the plan in other areas of the southwestern United States. This is the fourth location leased from J&J following Evolution Fuel's leases of fuel stations in Topeka and Manhattan, KS, which were announced last week and this week.
About Evolution Fuels, Inc.
Evolution Fuels, Inc. endeavors to market renewable transportation fuels at retail fuel stations that will provide superior quality fuels to competing fuel stations by virtue of the blending capability within the fuel dispensers at its stations and offering the blends at competitive prices. The stations will offer ethanol/gasoline blends of fuel including 10% ethanol/90% gasoline (E10), 20% ethanol/80% gasoline (E20), 30% ethanol/70% gasoline (E30), and 85% ethanol/15% gasoline (E85). The latter three blends are intended for flex-fuel vehicles, although recent studies have shown that many legacy vehicles on the road today may use E20 and E30 blends without incurring damage to the engines or fuel systems. The Company's plan calls for the development of a chain of renewable fuel stations in the southwestern and southeastern United States that will be a combination of "Evolution Fuels"-branded fuel stations/convenience stores and western-motif truck stops modeled after Willie's Place Truck Stop in Carl's Corner, TX. The Company's Web site is www.evolution-fuels.com.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
SOURCE Evolution Fuels, Inc.