Able Energy, Inc., Announces Alternative To High-Priced Foreign Oil
Rockaway, New Jersey (November 21, 2005) -- Able Energy, Inc. ("Able") announced that it has teamed up with TransMontaigne Inc., a leading supply chain management and fuel logistics company, to significantly increase the distribution and utilization of biodiesel, a clean-burning, soy-based alternative fuel product. This latest initiative is a priority for Able, a leading New Jersey based retail energy provider. Able is currently under contract to acquire substantially all of the assets of All American Plazas, Inc., including its truck stop locations.
Biodiesel is a comparatively new alternative fuel, produced from domestic, renewable resources that can be used efficiently in diesel engines and home heating oil applications. Biodiesel is derived from natural oils like soybean oil and meets the rigid specifications set forth by ASTM (American Society of Testing Materials) for diesel fuels. While biodiesel contains no petroleum, it can be blended at any level with petroleum diesel to create a cleaner burning biodiesel blend.
The use of biodiesel in conventional diesel engines and home heating applications results in a substantial reduction in unburned hydrocarbons, carbon monoxide, and particulate matter compared to emissions from conventional diesel fuel. In addition, exhaust emissions such as sulfur oxides, sulfates (major components of acid rain) and aromatics are essentially eliminated in biodiesel as compared to traditional petroleum diesel.
Able Energy in conjunction with the management of All American will begin using a new biodiesel fuel blend supplied by TransMontaigne Inc. at the All American Plaza truck stops in Doswell, Virginia, Bethel, Pennsylvania and in Harrisburg, Pennsylvania. In addition, Able Energy will be one of the first energy providers to offer a biodiesel blend for use in home heating applications.
"These locations will be the first stations in our network to offer a biodiesel blend. A major advantage of biodiesel over alternative fuels is not just its environmental benefits but also the fact that it can be used in existing engines without sacrificing performance," states Able Energy CEO, Gregory Frost, "and we're using a similar blend for our home heating oil business that will be offered through Able Oil Company and PriceEnergy.com, our online home heating oil business."
Frost continues, "We selected TransMontaigne to be our supplier because its fuel supply chain platform has proven to be a valuable and versatile tool for us. The fact that TransMontaigne is a leading supplier of BQ9000, the gold standard of biodiesel fuel quality, coupled with its ability to manage the blends we need, made the decision an easy one."
According to Executive Vice President of TransMontaigne, Rick Eaton, "Able Energy is a leader in bringing renewable fuels into the retail market. Biodiesel fuel, whether it's used to power truck fleets or heat homes, is a step in the right direction when it comes to clean-burning, environmentally-friendly energy alternatives."
With increasing concerns about the predictability, security and cost of America’s energy supply, air pollution and global warming, the political and economic necessity for clean-burning, domestically produced alternative fuels has never been greater. Proactive companies like Able Energy are exploring environmentally friendly alternative fuels like biodiesel. The biodiesel component of the fuel, which will be used by Able Energy in both its home heating oil blend and truck stop blend are certified BQ9000 biodiesel.
TransMontaigne Inc (ASE:TMG), headquartered in Denver Colorado, provides a broad range of logistically integrated transportation, terminal, supply, distribution, gathering, processing and marketing services through its wholly owned subsidiaries. TransMontaigne serves refiners, manufacturers, producers, transporters, suppliers, distributors, marketers and end users of petroleum products, natural gas, crude oil, chemicals and other bulk liquids in the mid/downstream sector of the petroleum and chemical industry. TransMontaigne's core competency is collaborative Fuel Supply Chain Management for refined petroleum products. To learn more about TransMontaigne, visit www.transmontaigne.com.
This announcement includes forward-looking statements based on current expectations. Actual results may differ materially. These forward-looking statements involve a number of risks and uncertainties including, but not limited to, the closing of future financing rounds, the possibility of continuing operating losses, the ability to adapt to rapid technological change, the receipt and fulfillment of new orders for current products, the timely introduction and market acceptance of new products and the ability to establish and maintain strategic partner relationships.
Able Energy Inc. headquartered in Rockaway, New Jersey, is a holding company for five operating subsidiaries, which are engaged in the retail distribution of and provision of services related to home heating oil, diesel fuel, and kerosene. In addition, Able provides complete HVAC installation and repair and can be accessed online at www.ableenergy.com.
Able’s common stock is traded on the Nasdaq Capital Market under the symbol "ABLE" and on the Boston Stock Exchange under the symbol "AEI".
For information contact Gregory D. Frost, Esq. (212) 944-2200