DALLAS, Jan. 14 /PRNewswire-FirstCall/ -- Evolution Resources, Inc. (OTC Bulletin Board: EVLN) (the "Company"), an advanced biofuels production company focused on the production of cellulosic ethanol and biodiesel using the latest in modern processes and technologies, today announced that it has executed a consulting services agreement with Dr. Richard Phillips, former senior vice president of technology for International Paper. As part of the agreement, Dr. Phillips shall become president of the Company's wholly owned subsidiary, Evolution Development, LLC, which will hold intellectual property and manage the Company's research and development efforts.
Dr. Phillips will continue to be Adjunct Professor of Wood and Paper Science and Executive in Residence at North Carolina State University, Raleigh, NC. Before retirement in 2005, Phillips spent 34 years with International Paper, where he worked on a variety of manufacturing and technical assignments. As Senior Vice President of Technology, Phillips had responsibility for Manufacturing and Engineering Services, Research and Development, Safety and Environment. In addition, Phillips was Project Director for International Paper's Pulp and Paper mill and eucalyptus plantation project in Brazil. He has authored more than 30 journal articles and holds 8 United States patents, with two new patent applications filed related to the Wood Ethanol Research Consortium ("WERC"), which was formed to provide a technical and economic analysis of repurposing pulp and paper mills for the production of ethanol from cellulosic sources. Evolution Resources is a member of the WERC.
The WERC, administered by North Carolina State University through its Department of Wood and Paper Science, College of Natural Resources, has drawn strong industrial support over the past three years for the innovative concept of repurposing uneconomical Kraft pulp mills at low capital and high efficiency to profitable ethanol plants.
Evolution Development, LLC was formed as a wholly owned subsidiary of Evolution Resources to manage research and development activities with regard to the production of cellulosic ethanol, and to coordinate the efforts of the various parties involved with the Company in evaluations of new and existing cellulosic technologies.
About Evolution Resources, Inc.
Evolution Resources, Inc. (OTCBB: EVLN) is a renewable energy company focused on the production of cellulosic ethanol transportation fuels. Presently, the company is pursuing certain proposed projects that will leverage existing distressed assets and infrastructure in the Southeast and Northwest. The Company's management team shares key members with Evolution Fuels (Pink Sheets: EVFN), which recently announced a dividend of EVLN stock to its shareholders as detailed in a press release issued by Evolution Fuels on November 27, 2009. For additional information on Evolution Resources, please visit its corporate website: www.evoresources.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.
CSIR Group, LLC
Stacey Yonkus, Principal
SOURCE Evolution Resources, Inc.