REGINA, Saskatchewan, Dec. 15, 2010 /PRNewswire-FirstCall/ -- Clean Power Concepts Inc. ("Clean Power", or the "Company") (OTC Bulletin Board: CPOW) - today announced its operating subsidiary General Bio Energy ("General Bio") is on target to reach sales forecasts and complete the fiscal year by more than doubling revenue over last year.
General Bio operates a fully integrated commercial oilseed crushing, bio-diesel refinery, and environmental lubricants manufacturing and bottling plant in Regina, Saskatchewan. The focus of the business continues to be on canola.
For the six month period ended October 31, 2010, the Company today reported total revenues of US$443,071 versus US$190,016 for the same period last year.
"Our impressive results so far in 2010 include a 12 fold increase in canola oil sales and a 100% increase in sales of canola meal," said Mike Shenher, President and CEO. "In the years to come, Clean Power Concepts will seek to extend our market in oil sales into other countries with an aim to double our revenues each year."Shenher further commented, "Our core oil business will continue to drive our growth. At the same time, we'll continue to expand our branded manufacturing business, further leveraging the diversity of our balanced business model." Canada's canola industry adds over $13 billion in economic activity to the Canadian economy. Depending on the year, canola is either Canada's first or second most valuable field crop (the other is wheat). The worldwide demand for Canola is soaring. The low level of saturated fats and wide range of functionality has made canola oil a popular option for food services looking to decrease trans fats in their food manufacturing. As well, biodiesel produced from canola is a proven, renewable clean burning fuel source that is supplying an increasing amount of energy in Europe and the U.S. "All of us at Clean Power are enthusiastic about what has been achieved thus far in 2010 and what we'll be able to accomplish in the next five years, and in particular about the value we expect to create for all of our stakeholders," concluded Shenher.