TOPPING, Va. -- XcelPlus Global Holdings Inc. announced today it has secured initial contracts for 200 million gallons of its "green" fuel-oil supplement, GlyClene(TM).



According to XcelPlus President J. Michael Parsons, successful testing of GlyClene fuel cleared the path for long-term sales agreements. The company continues in negotiations with prospects in the poultry processing, electronics, paving materials and carpet industries, all of them large consumers of fuel oil.



"We are now aligning our supply chain of biodiesel producers whose waste byproduct provides the raw material from which GlyClene is refined," said Parsons. "We hope that active sales and adoption of GlyClene will be the spark to reignite biodiesel production in the U.S., creating another value stream out of what has largely been waste material for that industry."



Parsons added that customer testing of GlyClene continues to deliver positive results, and the company is negotiating with a major financial institution to expand its credit facilities to support growth.



XcelPlus's GlyClene and GlyCoal(TM) are new alternative, renewable fuels produced with a proprietary process using waste products from biodiesel production. The "green" fuels are used to offset consumption of fossil fuels and reduce carbon emissions resulting from burning them.



SOURCE: XcelPlus Global Holdings Inc. via Business Wire.