DOTHAN, Ala.--(BUSINESS WIRE)--Clean Energy Pathways, Inc. (Pink Sheets: XPGH), will begin the New Year with its fuel division in full swing, as a result of the reinstatement of the biodiesel tax credit incorporated in the tax bill to be signed by President Obama today. "The bill's passage marks a bright start for our company's New Year, and its retroactivity for 2010 should add a boost for the current year as well, allowing us to capture subsidies going back into the last week of 2009," said David Poston, Chief Operating Officer. "We have a good customer base and we look forward to offering our fuel at competitive prices. We intend to reactivate our fuel deliveries immediately. Our biomass fuel product is an established brand and we have the infrastructure in place to begin servicing our customers immediately. With this, we look forward to a prosperous 2011."
Prior to the bill's passage, Clean Energy Pathways (CEP) focused its attention on developing its solar thermal division. "Since the acquisition of Sunfield North America, CEP has made great strides developing its dealer network in the U.S.," Poston added. "Solar thermal is a proven and reliable technology that will continue to grow. It is widely used throughout Europe and Asia. CEP is poised to make significant progress with Sunfield in 2011."
This release includes forward-looking statements, including statements about future growth. These forward-looking statements are not guarantees of future performance, and a variety of factors could cause the company's actual results to differ materially from the anticipated or expected results expressed in these forward-looking statements, including the risks that: the federal government will fail to renew certain tax credits in the future; the Company will not be able to continue to acquire suitable raw materials; and the Company will not be able to expand its customer base as it anticipates.