Appco Distributes 2.4 Million Gallons of Ethanol Fiscal Year to Date as Titan Executes Corporate Strategic Vision Focused on National Vertical Integration of Biofuels
June 16, 2008
Titan Global Holdings, Inc. (Pink Sheets:TTGL), a high growth, diversified holdings company, announced today that Titan's energy subsidiary, Appalachian Oil Company ("Appco"), has distributed more than 2.4 million gallons of ethanol in fiscal 2008 year to date. Titan's progress in the distribution of ethanol reflects both the Company's strategic vision as well as macroeconomic factors increasing demand for alternative energy solutions.
Titan is committed to creating a vibrant vertically integrated national energy company that is focused on the production and distribution of environmentally friendly and sustainable sources of renewable fuels, along with traditional hydrocarbons, from its distribution network based in the Southeastern United States. The Company intends to acquire additional locations and assets for the retail and wholesale distribution of biofuels and hydrocarbons across the United States for such products.
"We believe that the distribution of ethanol represents one of the most significant opportunities for growth," said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. "We have established specific initiatives to capitalize on the uses of renewable energy sources, including biodiesel products. Titan is committed to leveraging its distribution network to provide energy independent, environmentally friendly biofuels as a means to building value for both our customers and shareholders."
Titan has already made exceptional progress in the distribution of ethanol. The following summarizes Ethanol and its uses in Titan's energy mix:
Ethanol is grain alcohol, produced from domestically produced crops, which helps reduce America's dependence on foreign sources of energy.
Currently, ethanol is blended with gasoline which decreases fuel cost, increases the fuel octane rating and decreases gasoline's harmful emissions.
Ethanol is currently blended in E10 and E85 products. E10 contains 10% ethanol and 90% gasoline. Today about 46% of gasoline contains 10% ethanol. E85 contains 85% ethanol and 15% gasoline. E85 is used by recently produced flex fuel vehicles.
Today, Titan announced additional details of its growth in biofuel distribution:
The Department of Energy's Ethanol reports indicate the use of ethanol saves consumers $.20 to $.35 cents per gallon. Accordingly, Appco has provided fuel cost saving of over $840,000 to its customers in fiscal 2008.
Appco partnered with the State of Tennessee's Green Island Grant to open E85 locations in its markets.
Appco is now providing E85 for flexible fuel vehicles in three locations in Tennessee with an additional ten locations expected before the end of fiscal 2008.
Appco's E85 locations are providing more than 7,000 gallons of E85 per month, which is 75% greater than the national average of E85 usage per location.
"Our team is focused on building a vibrant vertically integrated national energy company that produces and distributes environmentally friendly and sustainable energy," said David Marks, Chairman of Titan Global Holdings. "As well, we are building alliances with producers of biodiesel. These plans will benefit our customers, our shareholders and our environment."
About Titan Global Holdings
Titan Global Holdings is a diversified holding company with a dynamic portfolio of subsidiaries spanning international telecommunications, electronics and homeland security, consumer products and energy resources and distribution.
Titan's operating divisions include the following:
The Titan Global Energy Division owns and operates traditional and next-generation renewable energy and fuel assets that can provide significant opportunities for growth in one of the world's largest and most critical markets.
Titan's Communications Division serves the communication needs of those individuals that have emigrated from their host country to the United States or other countries and plans to addresses a range of high-growth markets in the international telecommunication segments, including communication technology, platform management, international wholesale communication and the distribution of prepaid international telecommunication products.
Titan Global Brands designs, develops, and distributes consumer products from value categories to high end branded categories, through its existing distribution channels and new ones suitable for such products. Together, it integrates, protects and expands its consumer brand management capabilities to leverage and optimize growth across Titan's worldwide distribution channels.
Titan Card Services plans to capitalize on the burgeoning multibillion-dollar international prepaid money transfer sector. Titan Card Services' proprietary technology provides for convenient and efficient international money transfers.
Titan's Electronics and Homeland Security Division includes Titan PCB East, Inc., Titan Electronics Inc., and NEO EMS, Inc. These companies specialize in the manufacture of advanced circuit boards and other electronic products for classified military and defense department customers, and other high-tech clients.
For more information, please visit: www.titanglobalholdings.com.
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Forward-Looking Statements
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 -- With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of TTGL could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rates and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.
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