Former President of the Western States Petroleum Association Brings 42 Years of Petroleum Industry Experience to Renowned Renewable Energy Company
IRVINE, Calif., March 9, 2011 -- BlueFire Renewables, Inc., a company focused on changing the world's transportation fuel paradigm through the production of renewable fuels from non-food cellulosic wastes, announced that Joe Sparano has joined the company's Board of Directors. As former President and, subsequently, Executive Advisor to the Chairman of the Board of the Western States Petroleum Association (WSPA), as well as former president of Tesoro Petroleum's West Coast Regional Business Unit, Sparano is a much-welcomed addition to the BlueFire Renewables board.
"We are excited to have Joe Sparano serve on our Board of Directors," stated Arnold Klann, CEO of BlueFire Renewables, Inc. "Having a well-respected petroleum industry executive, such as Joe, agree to join our board provides BlueFire with strategic guidance as we seek to embark on new projects and solidify new and existing partnerships."
"I am very pleased to join the BlueFire Renewables board and view it as an excellent opportunity," said Sparano. "The Company has achieved major milestones over the last twelve months and has positioned itself as aleader in the biofuels space. I look forward to assisting in the future success of BlueFire Renewables."
Sparano is retiring from WSPA at the end of March, after completing a fifteen month term as Executive Advisor to the Chairman of the Board of theAssociation, where he advised the Chairman and supported WSPA's President on matters related to the trade organization's operations and advocacy in six Western states - California, Arizona, Nevada, Washington, Oregon and Hawaii.
Sparano also serves as a member of the Board of Directors of CVR Energy, Inc., a mid-continent US independent petroleum refiner and marketer of highvalue transportation fuels, and a manufacturer and marketer of nitrogen fertilizers in the form of ammonia and UAN. Previously, Sparano served as WSPA's President for almost seven years. Immediately prior to his appointment as WSPA's President, Sparano was President of Tesoro Petroleum's West Coast Regional Business Unit and Vice President of the company's Heavy Fuels Marketing segment.
Sparano's career also includes service as Chairman and CEO of Long Beach-based Pacific Refining Company and executive positions with Exxon, Ultramar, Union Pacific Resources/Champlin and Mercury Air Group. He has served as a consultant for TransCanada Pipelines' Executive Management, and has been president of his own consulting firm.
"We look forward to working closely with Joe as we see-through BlueFire's current project pipeline and embark on other exciting endeavors in the Renewable Energy arena," added Klann.
Sparano graduated cum laude from Stevens Institute of Technology in Hoboken, New Jersey, with a Bachelor of Science degree in Chemical Engineering. He has pursued graduate studies in business administration at both Stevens and Texas Christian University in Fort Worth. Sparano resides in Laguna Niguel, CA.
About BlueFire Renewables, Inc. BlueFire Renewables, Inc. was established to deploy a commercially ready, patented and proven Concentrated Acid Hydrolysis Technology Process for the profitable conversion of cellulosic waste materials ("Green Waste") to renewable fuel sources, including Cellulosic Ethanol, Biodiesel, BioJet Fuel, and Drop-in Directs. BlueFire is the only cellulose-to-fuel company worldwide with demonstrated production of Biofuels from urban trash (post-sorted MSW), rice and wheat straws, wood waste and other agricultural residues. BlueFire received an increase to its Granttotaling $88 million under the American Recovery and Reinvestment Act in December of 2009. BlueFire's biorefineries will be located near markets with high demand for ethanol and will use locally available biomass. This should dramatically reduce delivery costs and increase biofuel supplies, while providing a unique waste processing technology to help America's cities better manage the increasing problem of overflowing landfills. For more information, please visit www.BFREINC.com.
Forward-Looking Statements Statements about BlueFire Renewables expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. BlueFire's actual results could differ materially from expected results. BlueFire undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release; BlueFire will appropriately inform the public. This press release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). BlueFire Renewables, Inc. claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by theterms "may," "believes," "projects," "expects," or "anticipates," and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to: our successful development and deployment of ethanol production facility or facilities, impact of the company's expansion plan, and new business development success, future financial results, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from the expectations contained in any such forward-looking statements. These risks include, but are not limited to: failure to manage operating expenses or integrate new facilities and/or technologies, each of which could have a material impact on our business, our financial results, and the company's stock price. These risks and other factors are detailed in the Company's regular filings with the U.S. Securities and Exchange Commission. Most of these factors are difficult to predict accurately and are generally beyond the Company's control. Forward-looking statements speak only as to the date they are made and BlueFire Renewables, Inc. does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
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