Charlotte, NC (GlobeNewswire) - North Carolina Natural Energy, Inc. NCNE -10.00% , announced today it entered into an agreement with Howard Virkler, owner of Process Innovation, a 170,000 square foot chemical factory on 20 acres owned by Virkler Realty Company. Under the agreement, Mr. Virkler will assist North Carolina Natural Energy with research and development for a separate manufacturing agreement with Process Innovation to make biofuels and develop other markets for biomass materials.
Mr. Virkler has 50 years of experience in manufacturing specialty chemicals, located at 12345 Steele Creek Road in Charlotte, North Carolina. The US Environmental Protection Agency is responsible for developing and implementing regulations to ensure that transportation fuel sold in the US contains a minimum of renewable fuel.
The Renewable Fuel Standard (RFS) program increased the volume of renewable fuel required to be blended into transportation fuel from 9 billion gallons in 2008 to 36 billion gallons by 2022. Process Innovation (PI) has capacity to manufacture more than 200,000,000 pounds of chemistry annually. All reactors are 316 stainless steel and all storage tanks, weigh tanks, transfer lines and blending vessels are 304 stainless steel.
Process Innovation has 600 HP of steam power and 4,000,000 BTU's of hot oil capacity as well as cooling tower and chiller for cooling and ample instrument quality air to operate automated air valves, positive displacement air pumps air reservoirs for cleaning production equipment and product transfer lines. PI has six reactors ranging in size from 15 gallons to 10,000 gallons. Four of these reactors are rated for 100 lbs of internal pressure and equipped with condensers and vacuum. The 5,000 and 10,000 gallon reactors are rated for 5 pounds internal pressure. All reactors are equipped with reflux columns, condensers and collectors. PI has 23 mixing vessels ranging in size from 5 gallons to 6,000 gallons, 75 bulk storage tanks and a 70,000 lb truck scale for efficient weighing of incoming and outgoing bulk shipments. PI has 5 large machines for powder blending and 120,000 square feet of heated warehouse space. PI has a 10,000 pound per square inch homogenizer and other particle size reduction apparatuses. All productions areas are wired Class 1, Div 1 explosion proof and the total facility is constructed as a Highly Protected Risk, all construction materials are non combustible, which enables insurance coverage at 20% of industry standards for Chemical factories. http://www.proinnovate.us
North Carolina Natural Energy, Inc. is a development stage company in the business of managing alternative renewable energy solutions including biofuel, wind energy and innovative green products for agriculture, and livestock.
Forward Looking Statements
This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipate," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events.
SOURCE: North Carolina Natural Energy, Inc.
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.