NEW YORK, NY -- (Marketwire) -- 10/19/11 -- Todays Alternative Energy Corporation (OTCBB: TAEC), a biodiesel company that is organized to use its extraction technology to convert waste cooking oil and brown grease into a biodiesel fuel feedstock, today announced a new expanded biofuels strategy that encompasses other alternative means of producing biofuels. The global market for biofuels is forecast to increase to $185 billion by 2021 from $82 billion in 2011, with production of more than 65 billion gallons of biofuels coming from a wide range of biofuel feedstocks. Higher oil prices, new government mandates favoring non-fossil based fuels, and advanced fuel technologies operating on a larger and more economical scale are forecast to be the primary drivers of biofuel growth.
Len Amato, CEO of Todays Alternative Energy, said, "To achieve our mission of being a large scale producer of green fuels, we are determined to be on the cusp of new technologies. We are expanding our strategy beyond our current technology and positioning TAEC to find new ways to produce biofuels feedstock to gain a share of the more than 120% forecasted growth in demand for biofuels."
About the Company:
TAEC has plans for a biodiesel division that uses extraction technology to convert waste cooking oil and grease into a biodiesel fuel ingredient sold to biodiesel fuel producers. TAEC's biodiesel business is designed to eliminate environmental issues associated with disposing of waste cooking oil and grease. TAEC operates a cleaning division that will manufacture and sell a new line of industrial strength environmentally friendly biodegradable cleaning products that contain natural non-toxic ingredients made more powerful by TAEC's own scientific formulations.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Forward-looking statements in this release with respect to the TAEC's business, financial condition and results of operations, as well as matters of timing and effectiveness of developing, producing and marketing biofuel feedstock are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond TAEC's control with respect to market acceptance of their products, whether financing will be available, the plans for TAEC to market and sell products as well as certain other risk factors which are and may be detailed from time to time in TAEC's filings with the Securities and Exchange Commission.
This press release contains forward-looking statements. The words or phrases 'may,' 'intends,' 'expects,' 'estimate,' 'indicate,' 'plans,' 'anticipates,' 'could,' 'if,' 'will,' 'should' or similar expressions are intended to identify 'forward-looking statements.' Actual results could differ materially from those projected in forward-looking statements as a result of a number of risks and uncertainties. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. TAEC cautions readers not to place undue reliance on such statements. Unless otherwise required by applicable law, TAEC does not undertake, and TAEC specifically disclaims any obligation to update any forward- looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
Todays Alternative Energy Corporation