Medical Discoveries Responds To DOE Biofuel Project Request For Proposals
Salt Lake City, UT - Medical Discoveries, Inc. ("MDI") announced recently, as a result of its recent acquisition of Global Clean Energy Holdings LLC (Global), MDI will assume responsibility for a four-year $42M integrated Jatropha curcas plantation, biodiesel, and synthetic diesel refining project proposal submitted to the U.S. Department of Energy (DOE). The project will capitalize upon an innovative approach to a fully self-contained biofuel agricultural plantation and refinery utilizing Jatropha feedstock grown on farms in the Southern United States. The oil extracted from Jatropha curcas seeds, a native non-edible plant indigenous to many tropical and sub-tropical regions of the world, including Mexico, the Caribbean and Central America, is used for the production of high quality biodiesel.
The farm will be co-located within a state-of-the-art biorefinery and biomass thermo-chemical processing system that generates its own power and heat while producing 100% renewable biodiesel and synthetic diesel fuel (syndiesel). The bio-refinery will be self-sufficient, require no outside utilities, utilize zero-fossil-fuel, be carbon-neutral, and will be the first fully integrated biofuels production facility in the world. It will be built using matching funds from the DOE and a partnership between MDI, Blue Sun Biodiesel, Community Power Corporation, and will also be supported by the National Renewable Energy Laboratory (NREL).
"We believe the DOE's Request for Proposals reflects the growing recognition of the need to develop cost-effective feedstock for use in biofuels that does not compete with land and other resources used for food production," said Richard Palmer, MDI's President and Chief Operating Officer. "The per barrel cost of Jatropha oil is significantly lower than the current cost of crude oil, uses a fraction of the resources, and is considerably cheaper to produce than soybean, rapeseed or corn oil, the primary crops presently used for the production of biofuels. Due to our expertise in plant and soil sciences and our continued development of Jatropha plantations, we believe MDI is uniquely qualified to satisfy DOE requirements, and to become the first United States-based producer of commercial quantities of Jatropha oil."
On September 17, 2007 MDI announced that it had acquired all of the equity interests in Global Clean Energy Holdings LLC, and had terminated its prior drug development operations. The Company intends to change its name and ticker symbol to reflect its new focus on the bio-diesel alternative energy market. The Company also intends to relist on the Over-the-Counter Bulletin Board.
SOURCE: Medical Discoveries, Inc.