Earth Biofuels, Inc. (OTCBB:EBOF) has acquired The Wing Sail Company, Inc., dba Distribution Drive, through a share exchange agreement.
Distribution Drive has distributed biodiesel fuel since October 2003, initially in the state of Texas. Over the past two years, the distribution network has grown to include customers in the states of Georgia, South Carolina and portions of California. In January of 2005, Distribution Drive became the only distributor of Willie Nelson’s “BioWillie” biodiesel fuel.
Earth Biofuels CEO, Tommy Johnson, stated, “This acquisition provides an immediate distribution vehicle for Earth Biofuels’ biodiesel fuel. Distribution Drive currently distributes both 100% biodiesel fuel (B100) as well as 20% blended biodiesel (B20) and is able to take advantage of government biodiesel tax credits. Distribution Drive’s delivered volumes of B100 biodiesel have grown over the past 10 months at an average rate of over 30% per month.”
Earth Biofuels produces biodiesel fuel for sale and distribution through the company’s network of wholesale and retail outlets. The Company is focused on capitalizing on the growing demand for alternative and renewable fuels in the domestic market.