Evolution Fuels Signs Letter of Intent for Second Site

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Evolution Fuels Signs Letter of Intent for Second Site

DALLAS -- Evolution Fuels Inc. executed a letter of intent to enter into a lease agreement for its second branded fuel station here. Located in the heart of the Dallas metropolis, immediately adjacent to the upscale Park Cities neighborhood and the Katy Trail, the station will serve as another "marquee" location for the company's branded station rollout, according to the retailer. The first intended site is also in the Dallas metropolis, approximately two miles away.

Both stations will offer renewable fuel blends at the pump. The fuel dispensers, to be provided by Dresser Wayne, are uniquely designed to blend petroleum fuels with renewable fuels from the underground storage tanks within the dispenser as the fuel is delivered into the vehicle. The planned product offering includes E10 (10 percent ethanol blended with 90 percent petroleum gasoline), E20, E30 and E85, as well as B20 (20 percent biodiesel blended with 80 percent petroleum diesel).

Although the octane content increases going from E10 to E30, Evolution Fuels foresees the pricing to be 5 cents to 10 cents per gallon lower for the E20 product compared to E10, and likewise the same discount for the E30 product compared to E20.
The company also plans to offer specialty foods, beverages and other products in order to help create a recognizable brand.

Evolution Fuels said it expects to sign the definitive lease pursuant to the non-binding letter of intent within 45 days, while construction will take 90-120 days to complete.

The company's plan calls for the development of a chain of renewable fuel stations extending from Texas to Mississippi that will be a combination of Evolution Fuels-branded fuel stations/convenience stores and western-motif truck stops modeled after the Willie's Place Truck Stop in Carl's Corner, Texas.

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