GLOBAL INVESTMENT UPDATE: PetroSun Subsidiary to Commence Field
Testing for Algae-Based Biodiesel Production
Vancouver, December 4, 2006 - Global Developments, Inc.
(PINKSHEETS:GBDP), a publicly traded venture capital company, is
pleased to provide the following update with respect to PetroSun
Inc., an oil exploration company in which Global holds an equity
PHOENIX, AZ--(MARKET WIRE)--Dec 4, 2006 -- PetroSun, Incorporated
(PINKSHEETS:PSUD) announced today that Algae BioFuels, a wholly owned
subsidiary, will commence the field testing stage of the cultivation
of algae for biodiesel production during the first quarter of 2007.
The test site will be located in Arizona.
Algae BioFuels will install a biodiesel refinery in Arizona upon the
successful completion of the field cultivation trials. The initial
phase of the refining process will produce up to ten million gallons
per year. The refining capacity will be increased after the initial
phase of production and refining has been evaluated. Algae BioFuels
is also conducting a feasibility study of production and refinery
sites in Australia and New Zealand to complement future PetroSun
operations in those regions.
Extensive research has been conducted to determine the utilization of
microalgae as an energy source, with applications being developed for
biodiesel, ethanol, methanol, methane, and even hydrogen. Independent
studies have demonstrated that algae is capable of producing in
excess of 30 times more oil per acre than the current crops now
utilized for the production of biofuels such as corn and soybeans.
Biodiesel produced from algae contains no sulfur, and is non-toxic
and highly biodegradable.
The Office of Fuels Development, a division of the Department of
Energy, funded a program from 1978 through 1996 under the National
Renewable Energy Laboratory known as the "Aquatic Species Program".
The focus of this program was to investigate high-oil algae that
could be grown specifically for the purpose of wide scale biodiesel
production. Some species of algae are ideally suited for biodiesel
production due to their high oil content, in excess of 50%, and
extremely rapid growth rates.
One of the biggest advantages of biodiesel compared to many other
alternative transportation fuels is that it can be used in existing
diesel engines, which relieves manufacturers of having to make costly
engine modifications. Biodiesel can also be mixed, at any ratio, with
conventional petroleum diesel. As a result, the hybrid alternative
fuel can be used in the current distribution infrastructure,
replacing petroleum diesel either wholly, or as a diesel fuel blend
with minimal integration costs.
PetroSun's current operations are concentrated in the Ark-La-Tex
region with plans to expand into New Mexico, Arizona, Utah and
Australia in 2006. PetroSun provides a comprehensive array of
products and services to the oil industry. Algae BioFuels, a wholly
owned subsidiary of PetroSun, is an emerging producer of biodiesel
derived from the cultivation of algae. The Company's cutting-edge
technologies, combined with a proven ability to apply them
effectively and safely within a disciplined ROI framework, creates
long term value for PetroSun shareholders and partners. PetroSun is
headquartered in Phoenix, Arizona. For more information about
PetroSun visit the company's website at http://www.petrosun.us.
About Global Developments
Global Developments, Inc. is a publicly traded venture capital
company. It was formed to create a unique investment vehicle
representing a growing portfolio of innovative and emerging
growth-oriented companies. Global acquires its portfolio companies
either as wholly or partially owned subsidiaries, or as an investment
where Global is the lead investor. As a result, Global maintains
substantial management and operational control, thereby giving it the
ability to provide significant oversight and guidance in building
value and creating liquidity events for its shareholders. Global
invests in companies with solid management, operational excellence,
and the potential to grow substantial revenue streams.
Please visit http://www.globaldevelopmentsinc.com for more
You should not place undue reliance on forward-looking statements in
this press release. This press release contains forward-looking
statements that involve risks and uncertainties. Words such as
``will,'' ``anticipates,'' ``believes,'' ``plans,'' ``goal,''
``expects,'' ``future,'' ``intends,'' and similar expressions are
used to identify these forward-looking statements. Actual results
could differ materially from those anticipated in these
forward-looking statements for many reasons, including the risks we
face as described in this press release. For further information
about Global Developments, Inc. please refer to its Web site at
Global Developments, Inc.
Source: GLOBAL DEVELOPMENTS, INC.