Northern Ethanol Inc. – Retains Consulting Engineering Firm -
Charles G. Turner & Associates Inc.
Toronto, Ontario, Canada, October 1, 2006 - Mr. Gord Laschinger – CEO announced today that Northern Ethanol Inc. has retained Charles G. Turner & Associates Inc. as the owner engineers to assist with all ongoing initiatives.
The alliance is a key part to Northern’s continuous strategic investment in their business. It strengthens the existing business objective of constructing two 100 US million gallons per year ethanol facility by mid-2008. Adding further depth and experience needed to maintain a competitive edge in the fast growing ethanol industry.
Charles G. Turner & Associates bring over forty years of engineering experience to the Northern Ethanol team. Their corporate culture and strict operating due diligence processes makes them an ideal partner for Northern. CGTA have over fifteen years experience in the alcohol, ethanol, distillery and brewing industries and have worked on some of Canada’s largest power, utility, industrial projects.
"Ethanol is a CO2 neutral product and as such can make a significant reduction in the amount of CO2 in the atmosphere by reducing the proportion of non-renewable fuels used by automobiles and for electrical power production.”- says Charles Turner, Founder and President of CGTA.
“Ethanol plants produce not only ethanol fuel for automobiles, but the by-products can be used as high quality animal feed or burned in a power station to produce electricity and steam for the ethanol plant process. This is a renewable source of energy which is not subject to the variations of winds and tides as are other renewable sources of energy."
About Charles G. Turner & Ass
Headquartered in Scarborough, Ontario is a consulting engineering firm that provides consulting services to power, utility, automotive, breweries, distillery and cogeneration companies. CGTA’s primary focus interests are power, utilities, industrial process systems, high voltage electrical and industrial HVAC.
About Northern Ethanol Inc
The Company is a public reporting company under the Securities Exchange Act of 1934, as amended. Its objective is to become a low cost leader in the production, marketing and sale of ethanol and other renewable fuels in the Eastern United States and Canada. Their initial goal is to construct three facilities to produce ethanol and its co-products, specifically, DDGS and CO2, for sale in Ontario, the Northeastern United States and Europe. The company believes that, once production begins from its 100 million US gallon per year ethanol plants in Barrie and Sarnia, Ontario, they will be the largest producer of ethanol in Canada. Northern is also in advanced discussions for their third 100 million US gallon per year ethanol plant in the upstate New York area. Their proximity to the geographic market in which they plan to sell ethanol provides them with significant competitive advantages over other ethanol producers.
The Company expects to begin to market the ethanol that they will be producing from their initial facilities in Barrie, Sarnia and upstate New York as soon as the commencement dates of production can be reasonably estimated. They expect that all of the ethanol generated from their facilities will be sold in Southern Ontario and the Eastern United States, capturing a key competitive advantage over other producers who must incur costs of delivering ethanol from significant distances.
Safe Harbor Statement
Certain of the statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited financial resources, domestic or global economic conditions, especially those relating to Canada, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
For further information, contact:
Northern Ethanol Inc.
Natalie Horrell, Director of Corporate Relations
Tel: 416-366-5511
Fax: 416-214-1472
www.northern-ethanol.com
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