EcoPlus, Inc. announced that it has made progress towards completing an agreement with Alliance Development Group LLC for the purchase of license rights to the company’s patent-pending technology for turning brown grease restaurant refuse into a high quality, solid fuel product, as well as for the direct funding to build up to five fuel production plants in 2007. Closing of the agreement is expected to take place within the next 30 days.
“Our focus on completing a $1 billion agreement with Houston University’s General Hospital Systems has delayed the completion of our agreement with EcoPlus,” said Bill Burke, President of Alliance Development Group. “We are now focused on completing arrangements with EcoPlus, and we maintain a very high interest in developing their fuel production technology.”
“Alternative energy technologies, including those for biomass as exemplified in our patent pending system, are finding increasing acceptance and utilization in both the public and private sectors,” said Ralph Rogers, President of EcoPlus. “We are enthusiastic about the positive impact our agreement with Alliance will have on our growth and on the value for our shareholders.”