Raven Biofuels merges with Pure Energy - new activities in Canada

Paramus, USA - Raven Biofuels International Corporation has made significant progress since its founding late last year. The company intends to become a leader in the low cost production of renewable fuels from waste biomass.

The goals are to acquire technology and resources, begin project development, and secure a financial partner to complete our funding. To complete the technology acquisition Raven now announced the intention to merge with Pure Energy.

Pure Energy is a biofuels company focused on the development of processes to create renewable fuels from waste products. Raven will own patents that will enable us to produce cellulosic ethanol and derivative chemicals from agriculture waste such as wood and farm residue using a two stage dilute acidhydrolysis process. Raven has acquired the worldwide license rights to the above technology as an interim step prior to completion of the intendedmerger and has filed this material agreement with the Securities and Exchange Commission on June 3, 2008. More recently Raven announced that John Sams has joined us as Chief Operating Officer. John is a 30 year veteran in the energy, power, environmental and process sectors with specific experience in renewable fuels. Mr. Sams has over 20 years experience in senior management.

Project in British Columbia
Raven also announced our first project in British Columbia. In partnership with Spectrum Energy the company will develop cellulosic biorefineries in British Columbia that will convert Mountain PineBeetle (MPB) softwood and other biomass to ethanol and high value furfural chemicals. The biorefinery is initially projected to produce 10 million gallons of ethanol and chemicals.To secure funding commitments Raven has engaged the services of Raymond James Ltd. to advise the Company on its capital plan and the possibility of listing in Canada. With the assistance of RaymondJames Ltd., Raven intends to begin construction of its first cellulosic ethanol bio-refinery in North America in the near future. In addition, Raven and Spectrum have submitted a proposal to the Innovative Clean Energy Fund for funding to proceed with buildingBritish Columbia's first cellulosic ethanol refinery. Further developments on the company's progress with resources,funding and projects will be announced shortly.

Source: IWR Online, 09 Jun 2008