News

Pesco-Beam and Horizon Fuels Announce Global Waste Oil Recovery Joint Venture

Roanoke, Virginia – 20 August 2009

Pesco-Beam and Horizon Fuels, LLC today announced the formation of PBH Fuel Technologies LLC, a joint venture that will market a set of proprietary technologies designed to address the global environmental challenge presented by refinery sludge, waste oil and other disposable hydrocarbons.

“Horizon brings its patent-pending distillation technology to a partnership with Pesco-Beam who is known for its worldwide fabrication and engineering capabilities,” said Michael E. Carter, President and CEO of Horizon Fuels. “Pesco-Beam’s relationships have already created a pipeline of demand for our Enhanced Fuel Technology (EFR) in the United Arab Emirates and Malaysia.”

ABOUT HORIZON FUELS

Expectations Exceeded

Pesco-Beam has exceeded expectations for production yield on both the Heartland Petroleum Oil Recovery and Como Lube systems. In the first weeks of production these systems outperformed design quanities.

The Heartland Petroleum Oil Recovery system is complete.

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The Heartland Petroleum Oil Recovery system is now completed. This will be the largest oil recovery system that PESCO-BEAM has engineered and built yet. It is designed to process 7,500 LPH, and will produce a base lube oil product and an asphalt extender product. This system will be located in Ohio.

UTI Ventures Invests in PESCO-BEAM

UTI Ventures , a leading private equity ﬁrm, has announced its investment of $8 million into PESCO BEAM Environmental Solutions, a company involved in waste management (waste oil recycling and recovery) and alternate energy systems.

Mr. S. N. Rajesh, Director, Private Equity, UTI Ventures said:

“PESCO BEAM’s track record, deep understanding of the waste recycling and alternate energy systems industry, and strong vision will help the company achieve signiﬁcant success. We are excited to be partnering PESCO BEAM as they set out to execute their vision”.

PESCO-BEAM Merger

PESCO has merged with its long term fabrication and engineering partners BEAM Engineering to form the new international PESCO-BEAM Environmental Solutions Company Inc

Ethanol Production

The 5 MM GPY Ethanol Production System project (St Paul BioTek) is in the design and engineering phase. This project will be producing fuel grade ethanol and dried distiller's grain (for the animal feed market) in North Carolina.

Oil Recovery in Antigua

PESCO-BEAM personnel have just completed commissioning a new Used Oil Recovery system in Antigua.