AlgoDyne's Retail Partner Announces Expansion of Production Facilities

LAS VEGAS--(BUSINESS WIRE)--AlgoDyne Ethanol Energy Inc. (“AlgoDyne” or the “Company'” (OTCBB:ADYN) is pleased to confirm that its retail partner, Canadian Green Fuels, has entered into an agreement with Cansource BioFuels to open a new bio-diesel production facility in Mayerthorpe Alberta.

With a common vision to deliver locally produced renewable energy supply in western Canada, Canadian Green Fuels Inc. (www.cangreenfuels.ca) and Cansource Biofuels (www.cansourcebiofuels.ca) have signed a letter of intent to enter into a joint venture partnership agreement to open a new production facility to meet the growing demand for bio-diesel. President, Michael Shenher, announced today that his Regina based company, Canadian Green Fuels Inc. entered into this joint venture to further advance its industry leading position in the renewable energy sector.

“I’m pleased to announce that our joint venture with Cansource Biofuels will be called Cansource CGF Mayerthorpe, and will combine two valuable resources in the rapidly growing bio-energy sector,” said Shenher. “This joint venture agreement will provide Canadian Green Fuels a link to expanding its production facilities outside Saskatchewan in a place that has an abundance of canola.”

Cansource Biofuels is an Alberta-based farming corporation that has transformed its business model from farming operations to the production of bio-fuels. It brings superior local knowledge, management expertise and the connections to ensure the long term viability of this project. “We are thrilled to have a partner like CGF,” said Sheldon Hillgardner, the managing partner of the new facility.

The deal will see the construction and development of a community based, integrated crushing and bio-diesel facility to process 10,000,000 litres of ASTM certified canola based bio-diesel which will be scaled up to produce 40,000,000 litres by 2010. Cansource CGF Mayerthorpe looks forward to working with oil companies and petroleum retailers to supplement its supply of petroleum diesel and provide the environmentally friendly fuels consumers are demanding.

Canadian Green Fuels Inc., along with the recent announcement of a joint venture with Algodyne to build and operate a fleet of retail bio-fuels stations in western Canada, has solidified its position in the emerging renewable fuel and energy sector in North America with the launch of their MOPO brand of fuels, fuel conditioners, and environmentally friendly canola based additives and lubricants such as chain lube, cutting oil, and penetrating fluids.

About AlgoDyne Ethanol Energy Corp.

AlgoDyne is a corporation committed to developing initiatives in eco-energy world wide. Its focus is to create a portfolio of three primary activities (raw materials, wholesale/manufacturing, and retail) in the ethanol and bio-diesel industries.

Legal Notice Regarding Forward Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectation and/or claim, as applicable, that: (i) the Company anticipates it will have access to a broad range of equipment, products and accessories and intends to offer these products through a new e-commerce solution and sales force, with the first market being in Canada and soon, expansion internationally; (ii) the Company is committed to developing initiatives in eco-energy world-wide; (iii) the Company's focus is to create a portfolio of three primary activities in the ethanol and biodiesel industries; and (iv) the Company anticipates that its business plan will be fully engaged in all sectors of its strategic plan by Q4 of 2007.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the risk that the Company does not execute its business plan; (ii) the inability of the Company to keep pace with technological advancements in the field of eco-energy, including the ethanol and biodiesel industries; (iii) the Company's inability to adequately protect its intellectual property or the Company's inadvertent infringement of third party intellectual property; (iv) the Company not being able to retain key employees; (v) competitors providing better or cheaper products and technologies; (vi) markets for the Company's products not developing as expected at an individual consumer level as well as a commercial / retail level including the service station concept; (vii) the Company's inability to finance its operations or growth; (viii) inability to obtain all necessary government and regulatory approvals including North and South America; and (ix) the inability to effectively market and commercialize the Company's technologies, including the establishment of viable relationships with third parties, small entrepreneurs and existing petroleum providers. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's periodic reports filed from time-to-time with the Securities and Exchange Commission and available at www.sec.gov.