PetroSun BioFuels Refining Executes Joint Venture Agreement to Locate a Biodiesel Refinery in Coolidge, Arizona

January 9, 2008

PetroSun, Inc. (PINKSHEETS: PSUD) announced today that its subsidiary, PetroSun BioFuels Refining, has entered into a joint venture to construct and operate a biodiesel refinery near Coolidge, Arizona. The feedstock for the refinery will be algal oil produced by PetroSun BioFuels at company owned and operated algae farms to be located in Arizona. The refinery will have an annual production capacity of thirty million gallons and will produce 100% renewable biodiesel that will meet or exceed industry quality specifications for the domestic market. PetroSun BioFuels will process the residual algae biomass into ethanol.

The biorefinery and algae farm complex will generate all of its own electrical and heat requirements, utilize non-potable or saltwater, consume no fossil fuels and will be carbon neutral. The joint venture anticipates that all permits will be approved and construction on the biorefinery should commence during the third quarter of 2008.

About PetroSun

PetroSun’s operations include oil and gas exploration, development and production and algae-to-algal oil alternative fuels production. The oil and gas division is focused on the exploration of the Holbrook Basin of Arizona, the San Juan Basin of New Mexico and Australian based prospects. The Company will continue the development of oil and gas reserves in Louisiana. The alternative fuels division has entered the commercial stage of its algae-to-biofuels production technology. The Company plans to establish algae farms and algal oil extraction plants in Alabama, Arizona, Louisiana, Mexico, Brazil and Australia during 2008. The algal oil product will be marketed as feedstock to existing biodiesel refiners and planned company owned refineries. PetroSun is headquartered in Scottsdale, Arizona with field offices in Shreveport, Louisiana and Opelika, Alabama. For more information about PetroSun visit the company’s website at http://www.petrosuninc.com.

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One Response to “PetroSun BioFuels Refining Executes Joint Venture Agreement to Locate a Biodiesel Refinery in Coolidge, Arizona”

  1. StockPromoter07 said

    It’s good to hear BP & GM talk about alternative fuels, but 50 years to implement is too long.

    http://money.cnn.com/2008/03/05/news/companies/bigoil_hydrogen/index.htm

    Perhaps this link will spark more attention:

    http://www.chevrolet.com/electriccar/

    It is GM’s electric concept car the Chevy Volt. If more people begin to demand alternative fuel cars, we should be able to speed the rate at which the technology is developed.

    We have started an Investor Forum where Investors can meet and discuss topics like this:

    http://www.thesubway.com/small-cap-forum/

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