WEST PALM BEACH, Fla., May 20, 2015 (GLOBE NEWSWIRE) -- Alliance BioEnergy Plus, Inc. (OTCQB:ALLM) (the "Company") announced today that through its subsidiary AMG Energy Group, LLC it has signed its first licensing agreement for the territory of South Africa with Naldogen (Pty) Ltd for an upfront fee of Twenty Five Million Dollars ($25,000,000) plus royalties. In addition the Company negotiated a Twenty Four and One Half Percent (24.5%) ownership in Naldogen in exchange for a Twenty Four and One Half Percent (24.5%) ownership for Naldogen in a to be determined Company owned CTS plant in the United States.
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Naldogen PTY LTD plans to change its name to Carbolosic Energy SA in order to better represent its new direction and is majority owned by Tes Projects (Pty) Ltd and its principal Sonono Khoza, traditional wife of South African President Jacob Zuma and daughter of legendary South African businessman, owner of the Orlando, Pirates soccer team and organizer of the World Cup, Irvin Khoza. Naldogen is also owned in part by the South African company Spearhead Capital which was instrumental in bringing the CTS technology to South Africa. Naldogen intends to build CTS plants in several providences around South Africa in an effort to create thousands of jobs, reduce energy costs and create a "green" economy in a country in much needs of economic stimulus.
The Agreement was signed last Wednesday in the Johannesburg offices of Spearhead Capital by Sonono Khoza and Alliance BioEnery Plus CEO, Daniel de Liege. "This is a major step in the commercialization of the CTS technology and only the first of many licenses we will see around the world," said Company CEO Daniel de Liege.
About ALLM :
Alliance BioEnergy +, Inc. ("ABE") (OTCQB:ALLM), is a publicly traded company focusing on "Green" energy and renewable technologies. ABE's subsidiaries focus on emerging technologies in the renewable energy, bio-fuels and new technologies sectors. ABE owns a fifty percent interest in Carbolosic, LLC, and the exclusive rights to North America (including Canada, U.S. and Mexico) and Africa. Carbolosic holds the exclusive, worldwide license to the patented mechanical/chemical technology, "CTS™" developed by the University of Central Florida. The CTS technology is able to produce Sugars, Various Fine Chemicals, Plastics, Carbon Fibers and other valuable products from virtually any plant material, wood or paper by product, fruit casings or bio waste.
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Source: Alliance BioEnergy + Inc.