Hedge Fund Veotoro enters physical oil markets

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) July 12, 2010 -- Commodities Hedge Fund Veotoro acquires trading and supply rights to $30MM Advanced Biofuels Refining & Cogeneration Facility in Florida. The new facility operating under a partnership dubbed Florida Biofuels Services LP will engage Veotoro’s financial advisory services and trading advice for the supply and distribution of its’ production destined for the energy hungry South Florida and Caribbean markets.

“The new refinery not only offers the South Florida rural farms a new outlet market but also will help provide the region some much needed new ‘green collar’ jobs.” Said Virgilio Gumá Managing Director Veotoro Management LLC.
Florida Biofuels LP boasts the very latest state of the art production equipment and boasts proprietary technology that will produce approximately 20 million gallons of biodiesel per year and 5-10MW power production by converting a combination of local and regional feedstock into advanced biofuels in a highly efficient way. The plant slated to break ground in early 2011 in South Florida. The new state of the art facility will have access to nearby pipelines, power grids, deepwater Florida ports, interstates and railways.

“Biodiesel has the best energy balance and the best greenhouse gas reduction of any fuel that is currently in the commercial marketplace and is the only advanced biofuel that has reached commercialization in the US," stated Joe Jobe, CEO of the National Biodiesel Board in February 2010 after the EPA ra-affirmed Biodiesel classification as an “Advanced BioFuels.”
Veotoro Management LLC was established by Virgilio Gumá in 2008 and was formerly a director of commodities trading for Merrill Lynch in London and will provide intermodal trading, transportation and logistics support to the new facilities.