RED DEER, ALBERTA -- (Marketwire) -- 03/07/13 -- Blue Horizon Industries Inc. ("Blue Horizon" or the "Corporation") (CNSX: BH) announced today that its wholly owned subsidiary Blue Horizon Bio-Diesel Inc ("BH Bio-Diesel") has received confirmation of an approximate $8 million provincial grant under the Alberta Bioenergy Producer Credit Program.
This is a four year production grant, where the government will support BH Bio-Diesel with a $0.13 per litre subsidy. Don Allan, President and CEO of BH Bio-Diesel says "The performance of the company's existing demonstration plant and a strong pipeline of opportunities have allowed us to demonstrate to the province that our technology is proven and ready for commercial delivery. The funds from the grant will allow BH Bio-Diesel to implement its plan to produce renewable diesel on a commercial basis, and we look forward to working with the government to build the market leader in the waste-to-fuel industry."
About Blue Horizon Industries Inc.
Blue Horizon Industries Inc. is a diversified industrial company with a four-fold strategic focus. The Corporation operates through three subsidiary companies; Blue Horizon Energy Inc. - 100% owned ("Blue Horizon Energy"), Blue Horizon Bio-Diesel Inc. - 100% owned ("BH Bio-Diesel") and Blue Horizon Mining Inc. - 74% owned ("BH Mining"). Blue Horizon Contracting ("BH Contracting") and BH Energy are wholly-owned divisions of Blue Horizon Energy. BH Contracting is currently working with BH Bio-Diesel on the dismantling and re-erection of the demonstration plant while BH Energy is the Operator in exploration interests for oil and gas in Western Canada having participated in 3 test wells and one horizontal well in 2011. BH Mining is advancing two mining projects in British Columbia and BH Bio-Diesel has an exclusive sub-license agreement to build green renewable-diesel plants in Canada.
The shares of the parent company, Blue Horizon Industries Inc., are listed on the Canadian National Stock Exchange ("CNSX") under the symbol BH.
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
Neither the Canadian National Stock Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian National Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
Blue Horizon Industries Inc.
President & CEO
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