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Posted by Giles Clark, London The O2Diesel Corporation (AMEX: OTD) has entered into a distribution agreement with Geneva-based Fair Energy S.A. for several markets including Colombia and Bolivia. The agreement was reached and announced at a national press launch of O2Diesel's? ethanol diesel blend in Bogot?, Columbia. The press conference, which was attended by Juan Lozano, Columbia's Minister of the environment, followed successful demonstration and emission testing of O2Diesel carried out using buses operated by the Bogot?'s Trans Millennium mass transit system.
Pierre Alain Puippe, Fair Energy's Global Manager for Biofuels, commented, "I am very optimistic about O2Diesel's growth opportunities in several Central and South American countries. With the support of the government, we intend to quickly implement a larger scale demonstration with the objective of wide scale commercial adoption within 12 months." Mr. Puippe continued, "Colombia's transit system has nearly 5,000 buses which use more than 100,000,000 liters of diesel fuel per annum, which is our initial target. The introduction of O2Diesel fuel in the transit system should have a subsequent substantial reduction in emissions and smoke from the vehicles, as demonstrated by our test in Bogot?, which could bring an immediate and much needed, improvement in air quality." Speaking to an assembly of press and the public, Juan Lozano, Colombia's Environmental Minister, commented on his plan to support programs that will improve air quality in his country. Mr. Lozano stated, "We have an obligation with the people of Colombia and the environment, to find solutions to improve the air quality. Today, Fair Energy and O2Diesel are offering us a very important contribution to that solution. We are going to begin testing as required and work to implement adoption by law the use of this Biofuel. When we find the solution we are looking for, we cannot be blind to opportunity, we should embrace it." Alan Rae, CEO of O2Diesel Corporation, said, "Countries such as Colombia are perfect markets for O2Diesel. They have substantial air quality issues that are getting worse as they develop and expand economically. Many are net importers of diesel fuel and have competitively priced local ethanol production which can augment this supply. Couple this with a strong partner in Fair Energy and you have all the drivers that have succeeded so well for us in India."
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