Vega Promotional Systems has announced through its wholly owned subsidiary, Natural Fuels Industries, that it has entered into an Agreement to purchase a twenty percent (20%) equity interest in the manufacturing facility currently owned by Natural Fuels Industries Company, Inc. of Thailand.
The facility, designed to produce alternative/green energy includes 25 acres of land located on a deep sea port with various buildings consisting of 200,000 square feet of manufacturing and storage space. The plant is outfitted with its own electrical power substations that will provide up to 20,000KV of available electrical power to the facility.
The facility also contains existing machinery for packaging, stacking and printing for labels and other items that will supplement and compliment the primary operations.
The plant, currently under construction, will have the capacity to produce up to 500,000 metric tons of bio mass fuel pellets annually. The Company's plan is to have the facility running at full capacity during the third quarter of 2009.
"We've been working very closely with our partners in Thailand on marketing their products in the United States and when the opportunity to purchase an equity position in the plant became available, we jumped at the chance, stated Bill Jacobson, CEO of Natural Fuels Industries, Inc. The state-of-the-art facility will serve as a model for other plants we are planning to construct around the world."
Biomass or biofuel is material derived from recently living organisms. This includes plants, animals and their by-products. For example, manure, garden waste and crop residues are all sources of biomass.
It is a renewable energy source based on the carbon cycle, unlike other natural resources such as petroleum, coal, and nuclear fuels. The use of biomass fuels can therefore contribute to waste management as well as fuel security and help to prevent global warming.
NFI manufactures and markets various products including energy efficient pellet fuel made from organic waste bi-products using unique and innovative ideas combined with proven technology.
The Company's current expansion includes building manufacturing plants in various international locations that will produce bio-mass products and bio-diesel products for power generation units. It is estimated that in the next five years the bio mass industry will become a $20 billion industry.
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