Vega Biofuels Enters JV to Produce Bio-Coal

Vega Biofuels (OTC Pink:VGPR) announced it has entered a joint venture agreement to manufacture and market bio-coal, a green-energy product, with Laoc Inc. Laoc is a newly formed company owned by Bio-Coal manufacturer Doug Vance.
As quoted in the press release:

Vega Biofuels recently entered into an Agreement with Colorado based Vencor International, Inc. to manufacture the Company’s Bio-Coal energy product on an exclusive basis. Vencor International has since ceased operations prompting Vega to go directly to Mr. Vance for production of its Bio-Coal product. The two companies have been working together recently to meet the requirements of Vega’s clients and testing of the torrefied wood product exceeded the requirements to be called Bio-Coal.
Manufactured from timber waste using torrefaction technology, Bio-Coal has a high energy density of up to 13,000 BTUs/Lb and is considered a renewable energy fuel that meets the Renewable Portfolio Standards and Renewable Energy Credits (RECs) in the United States.

Click here for the full press release.