Published: March 18, 2008
1,000 E-85 Convenience Stores to Open by 2010 Between Washington and New York
WILMINGTON, Del., March 18 /PRNewswire/ -- Alternative Fuel Distributors,
Inc., aWilmington Delaware-based company, announced today that it will
construct and operate 1,000 convenience stores providing only E-85 and other
alternative automotive fuels along the east coast of theUnited States within
3 years. To assist the company achieve this objective, Alternative Fuel
Distributors intends to file a registration statement with the Securities and
Exchange Commission for an initial public offering of up to 2,000,000 of its
Class A membership units.
Alternative Fuel Distributors is a development-stage company that was
organized in June 2007 to develop, construct, own and operate convenience
stores dedicated to supplying alternative fuels to retail customers. The
company will also develop a wholesale distribution channel for alternative
fuel products such as E-85, various biodiesel products, liquefied hydrogen and
other possible mass consumption alternative fuels. The company will own and
operate alternative fuel terminals located in New Jersey, Pennsylvania and
Maryland to supply fuels to company owned convenience stores and wholesale
customers fromWashington DC to New York.
Company owned convenience stores are branded under the "Go Green Station"
trademark and the company anticipates the first 100 stores will be open by
first quarter 2009 in Pennsylvania, New Jersey, Maryland and Delaware. Retail
E-85 gasoline is expected to sell for $2.25 to $2.50 per gallon as compared to
the predicted $4 per gallon for regular gasoline.
Today, there are approximately 1,500 E-85 fueling stations located
throughout theUnited States compared to the approximately 150,000 gas
stations. There are less than 20 E-85 stations located between New York and
Richmond, VA. With the opening of the 1,000 "Go Green Station" convenience
stores, Alternative Fuel Distributors will provide a competitive automotive
fueling alternative to regular gasoline for the millions of flex fuel vehicles
currently on the road.
Alternative Fuel Distributors expects to be one of the largest wholesale
distributors of biodiesel products in theUnited States. It will focus on
selling reduced priced biodiesel products to fleet operators, school
districts, municipalities and home heating companies as an alternative to
their regular diesel products.
With the sales of its membership units in its initial public offering,
Alternative Fuel Distributors intends to build and operate the company's
convenience stores and wholesale terminal facilities.
Gerald Jones, the company's co-founder, will serve as president of
Alternative Fuel Distributors. Mr. Jones is a principal in the firm Broadway
Properties, Inc., aWilmington based affordable housing development company.
He is former vice president and finance manager for BlackRock Institutional
Management, Verizon Communications and Bank One.
Keith Daviston, will serve as chief financial officer of Alternative Fuel
Distributors. Mr. Daviston is a former finance vice president of Bank of
America business unit MBNA. He is also a former controller of aDallas based
manufacturer of industrial gases and assistant controller for JCPenney
National Bank.
When available, a written preliminary prospectus related to the offering
may be obtained from Alternative Fuel Distributors, Inc., P.O. Box 7937,
Wilmington, Delaware 19803 by contacting Keith Daviston, the company's Chief
Financial Officer.
Forward-Looking Statements
A registration statement relating to these securities has been or will be
filed with the Securities and Exchange Commission but has not yet become
effective. These securities may not be sold nor may offers to buy be accepted
prior to the time the registration statement becomes effective. This press
release shall not constitute an offer to sell or the solicitation of an offer
to buy, nor shall there be any sale of these securities in any state in which
such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.
Statements in this press release regarding Alternative Fuel Distributors'
business that are not historical facts are "forward-looking statements" as
defined under the Private Securities Litigation Reform Act of 1995. These
statements involve risks and uncertainties that could cause actual results to
differ from those contained in the forward-looking statements.
Alternative Fuel Distributors, Inc. is on the Web at
http://www.AltFuelDistributors.com
SOURCE Alternative Fuel Distributors, Inc.
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