SunBelt Biofuels Business acquired by REPREVE Renewables
For Release: 6/15/2010
Atlanta, GA and Greensboro, NC --SunBelt Biofuels, LLC, a leader in bioenergy crops, and Unifi, Inc. (NYSE: UFI), makers of the REPREVE® family of recycled fibers, have announced the formation of a joint venture between certain of their affiliates intended to develop and commercialize bioenergy crops, including Freedom™ Giant Miscanthus. The new joint venture, REPREVE™ Renewables, LLC, will begin by focusing on the commercialization of Freedom Giant Miscanthus, a non-invasive bioenergy crop, with the highest yields available today. The Freedom planting stock will be sold to U.S. growers, who will in turn sell the energy crop as feedstock to the bioenergy and biofuel industries in the U.S. and E.U.
“Partnering with REPREVE, one of the leading environmental brands in the textile industry, will provide us with the opportunity to further expand Freedom Giant Miscanthus,” said Phillip Jennings, COO of REPREVE Renewables. “Our goal is to develop the resources to economically produce sufficient energy from renewable resources to assist America in reaching its energy independence goals.”
As the highest-yielding bioenergy grass on the market today, Freedom Giant Miscanthus yields up to 25 tons per acre. It is heat and drought tolerant, extremely efficient in converting sunlight to biomass energy and it is a perennial, meaning it grows back annually. Freedom Giant Miscanthus is the result of extensive breeding and research among biomass crops at Mississippi State University, and is the first and only University-released, licensed and branded variety of Giant Miscanthus available. It is superior in comparison to other biomass solutions in height and yield per acre.
Under the new name, REPREVE Renewables, Freedom Giant Miscanthus joins REPREVE fibers in conserving the earth’s natural resources. The REPREVE brand continues to expand with the goal of providing sustainable product solutions. The name REPREVE means to bring relief to the planet.
“This initiative will support our strategy to grow the REPREVE brand and product portfolio, and will add to our commitment in being a global leader in sustainability efforts,” said Bill Jasper, CEO and president for Unifi.
About REPREVE Renewables:
REPREVE™ Renewables, headquartered in Soperton, Georgia, is an innovator in the quest to bring workable solutions for renewable energy to market. The Company participates in the research and commercialization of viable non-food biomass solutions for renewable energy, thus decreasing U.S. dependency on foreign oil. REPREVE Renewables has the exclusive license to commercialize Freedom™ Giant Miscanthus, a bioenergy crop from which electricity and fuel can be produced effectively and efficiently. For more information about REPREVE Renewables, visit www.repreverenewables.com, or to learn more about REPREVE®, visit www.repreve.com.
Unifi, Inc. (NYSE: UFI) is a diversified producer and processor of multi-filament polyester and nylon textured yarns and related raw materials. The Company adds value to the supply chain and enhances consumer demand for its products through the development and introduction of branded yarns that provide unique performance, comfort and aesthetic advantages. Key Unifi brands include, but are not limited to: AIO® - all-in-one performance yarns, SORBTEK®, A.M.Y.®, MYNX® UV, REPREVE®, REFLEXX®, MICROVISTA® and SATURA®. Unifi's yarns and brands are readily found in home furnishings, apparel, legwear, and sewing thread, as well as industrial, automotive, military, and medical applications. For more information about Unifi, visit www.Unifi.com, or to learn more about REPREVE®, visit www.Repreve.com.
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