DALLAS--(EON: Enhanced Online News)--Algae International Group (OTCBB: ALGA) announced today a strategic shift in its clean energy strategy along with a change of leadership with the appointment of Edward Bollen as Chairman and Chief Executive Officer.
With the constant changing dynamics of the alternative clean energy industry and the ever-evolving legislation found at the state and federal level, ALGA has experienced a strong competitive response to the development and direction within the U.S. domestic market for Bio Diesel production. Even with several positive developments over the last year, the ALGA concept, its product and its services have made minimal inroads into the alternative clean energy industry. In response to the prevailing market conditions, Regus Advisors Inc., ALGA’s business development consultant and corporate advisor, have recommended several new strategies that have assessed both the domestic and global alternative clean energy market.
ALGA will continue in its efforts to fund the previously announced Algae Bio Diesel initiative in California while at the same time expanding the Company’s business development focus to include international clean energy initiatives and other clean energy technologies besides Bio Diesel from Algae. Investment funding will be sought to develop the California project while seeking merger and acquisition strategies and the development of organic growth through industry consolidation.
As part of the expanded focus, the current management team have agreed to step down for a new executive team led by Edward Bollen. Mr. Bollen’s recent experience with a large private industrial environmental services company with contracts in the northeastern United States, Taiwan, Netherlands and Ecuador brings a new and energized leadership with a different perspective of business planning and corporate engagement.
Mr. Bollen stated, “I have respect and confidence for the ALGA concept, the product, and the market. With the introduction of our established network of global contacts in a variety of alternative energy related industries, it is our goal to provide the best quality product while identifying any and all opportunities that will fuel investor confidence and create greater economic value for all of our shareholders. This will only be accomplished by bringing the best talent to ALGA and focusing on those unique markets that not only encourage alternative clean energy development, but provide corporate incentives for this type of industrial development. These include, but are not limited to, direct services contracts, public-private-partnerships, or EB-5 investment opportunities.”
Mr. Bollen added, “Globally, our focus will be on emerging markets and those countries that desire increased alternative clean energy development and will partner with ALGA to bring this product to their energy consumers. Success will only be accomplished with solid strategic planning and sound tactical employment, each on a multitude of levels and very likely requiring adjustment as we go forward. It is our simple goal to make ALGA successful and get high financial returns to our investors while providing a clean alternative energy solution to our customers. I am very proud to be associated with ALGA and to have been asked to take the lead on this unique opportunity in a business that I believe has significant financial growth and is an environmental necessity for the future of our world.”
About Algae International Group Inc:
Algae International Group Inc. (OTCBB: ALGA) is a development stage public company to date focusing on renewable energy from the proprietary Biofuel from Algae that combines methane, CO2, fuel cells, nitrates, phosphates, and sunlight to remove biomass and create HRD and HRJ fuel. The Company is now expanding its clean energy market focus both regionally and technologically. For more info visit: www.algaeplanet.com
Safe Harbor Statement - This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ALGA does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.