Raptor Technology Group, Inc., who is in the process of acquiring Raptor Fabrication & Equipment, Inc., announced on Friday that the company signed an agreement for a biodiesel manufacturing facility for their customer, Coastal Biofuel of Savannah, Georgia. The plant has the capability to produce one million gallons of clean biodiesel each year. Coastal Biofuel will convert used cooking oils, animal fats, and virgin vegetable oils into clean burning biodiesel fuel.
Raptor expects the facility to begin biodiesel production in mid March of this year. Providing both the manufacturing and technology, Raptor will participate in the ongoing revenue stream of the facility. The Coastal Biofuel facility is the second plant that Raptor will launch in 2011.
Mr. Tom Gleason, President and Chief Executive Officer of Raptor Technology Group, Inc., said, “We are excited to have Coastal Biofuel as one of our customers. With fuel costs rising, Coastal will be able to produce a competitively priced biofuel that burns cleaner and has superior lubricating properties compared to petroleum diesel fuel.”
Mr. Gleason further added, “In addition to its many advantages over petroleum diesel fuel, the recently re-instated Federal Tax Credit for biofuel levels the playing field for economical and profitable fuel production.”
Headquartered in Groveland, Florida, Raptor Technology Group, Inc. has signed a “Plan of Merger Agreement” with Raptor Fabrication & Equipment, Inc. They anticipate the business combination to be completed shortly. Raptor Fabrication & Equipment, Inc. is a technology supplier that provides eco-friendly and green solutions to global issues. Their commitment is to developing reliable fuel and energy alternatives by making them dependable and economically appealing to the manufacturer and the consumer.
Additional patent pending technology has also undergone development to recover rare earth minerals from endless miles of mine tailings. This technology provides an eco friendly means of recycling these mine tailings economically and profitably.
Raptor Technology Group, Inc. has positioned their company to become a leader in the biofuel and mining industries. This is with their advanced proprietary biofuel production technology and mineral recovery technologies.
For more information visit: www.raptortechnologygroup.com