Native Hawaiian Owned Company To Invest $200 Million in Vietnam Ethanol Plants

Honolulu Hawaii (MMD Newswire) August 28, 2009 -- Richard Kamahele Figueroa, President and CEO of FullOn Holdings, Inc., a Native Hawaiian owned company, announed today that its Honolulu based division, Golden State Biofuels, has been awarded a forty nine year exclusive agreement by the Vietnam government to construct and operate ethanol production plants throughout Vietnam. Total capital expenditures to complete ethanol production facilities will exceed $200 million and use equipment manufactured in the United States.

Ten initial plants will be constructed and operating by fall 2010, with up to 150 additional plants projected to be operational by the year 2016. Using rice hulls as the biomass from which the ethanol is produced, these plants will help reduce serious pollution problems in Vietnam arising from the current practices of burning the rice hulls as well as dumping them into the Mekong and Red rivers.

Photo: FullOn CEO Richard Kamahele Figueroa at agreement signing in Hanoi, Vietnam (Copyrighted 2009 Ashala Tylor Photography)

Each ethanol plant will be a self contained modular ethanol production unit using state of the art ethanol production equipment and environmental protection systems. The modular design plants will each have a production capacity of 5000 U.S. gallons per day.

Under the agreement with the Vietnamese government a substantial portion of sale proceeds from each gallon of ethanol produced will go directly to Han HSC Co. Ltd, a Vietnamese government sponsored non profit agency responsible for the care and treatment of the seven million livimg victims, including three million children, of Agent Orange poisoning arising from the spraying of Agent Orange as a defoliant during the Vietnam war.

FullOn Holdings, Inc.
ceofullon@gmail.com
Fax: 1-800-752-2246

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