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Kreido Biofuels and Vopak Terminal Wilmington
Have Entered Into a Liquids Handling Agreement
Camarillo, California – June 13,
2007 – Kreido Biofuels, Inc. (OTC BB: KRBF), announced
today that they have entered into a long term liquids handling agreement
with Vopak Terminal North America, Inc., professionals in liquid bulk
logistics. Under the terms of the agreement, the Vopak terminal located
at the Port of Wilmington, North Carolina will provide storage and vessel,
barge, tank car and tank truck loading and unloading infrastructure to
handle Kreido’s raw feedstocks, finished product, and other liquids
associated with the production of biodiesel.
“We are pleased to be working with Vopak, the world’s
largest independent tank terminal operator. This contract marks for us
a significant
step
in executing our plan to have our first biodiesel plant operational in
the first quarter of 2008,” stated Dr. Joel Balbien, Kreido Biofuels’ President
and CEO.
Kreido has optioned Port land adjacent to the Vopak terminal.
Vopak will be providing for the storage of Kreido’s biodiesel,
glycerin and refined oil feedstocks (soybean, canola, and palm), loading
and unloading
of these materials from vessel, barge, tank car and tank truck as well
as providing for the liquids pipeline transport to be constructed between
Kreido’s facility and Vopak’s terminal.
“Kreido sees a big market opportunity in Wilmington. Vopak’s large
storage capacity, well run operation and safety record will enable us
to maximize the Port’s world-class supply chain solution and deep
water access to potential feedstock,” states Phil Lichtenberger,
Kreido’s Senior Vice President.
About the Company
Kreido Biofuels, Inc. has invested $20 million to provide the world renewable
energy through its proprietary process intensification technology -
the STT® system. The Company is currently developing biodiesel
plants in the U.S. that will have an anticipated aggregate nameplate
capacity of 100 million gallons per year. Kreido’s plants are
built around its STT® 30G biodiesel production unit, a complete
pipe-to-pipe biodiesel production system that significantly improves
the efficiency, quality, and process control of biodiesel production.
Committed to building a sustainable future, Kreido Biofuels’ plants
have a smaller footprint and offer feedstock flexibility. The Company
plans to license its biodiesel technology internationally and to third-party
biodiesel producers in the U.S. Kreido Biofuels is based in Camarillo,
California. STT is a registered USPTO trademark of Kreido Biofuels,
all rights reserved. For more information about Kreido Biofuels, visit www.kreido.com.
About Vopak
Royal Vopak (head-quartered in Rotterdam, the Netherlands) is the world's
largest independent tank terminal operator specializing in the storage
and handling of liquid and gaseous chemical and oil products. On request,
Vopak can provide complementary logistics services for customers at
its terminals. Vopak operates 75 terminals with a storage capacity
of more than 21 million cbm in 30 countries, of which 4.1 million cbm
in 19 terminals by the division Chemicals Europe, Middle East & Africa.
The terminals are strategically located for users and the major shipping
routes. The majority of its customers are companies operating in the
chemical and oil industries, for which Vopak stores a large variety
of products destined for a wide range of industries.
# # #
Investor Relations Contact:
Ina McGuinness or John Mills
Integrated Corporate Relations
Office: 310 -954 -1100
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DGPR Consulting
Office: (323) 253-9337
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