iVoice Announces Additional Plans To Enter Alternative Energy Sector; Company Targets Acquisition of Promising Biodiesel Technology

iVoice Announces Additional Plans To Enter Alternative Energy Sector; Company Targets Acquisition of Promising Biodiesel Technology

 

MATAWAN, N.J.--(BUSINESS WIRE)--June 20, 2006--iVoice, Inc. (OTC Bulletin Board: IVOI), a developer and licensor of proprietary technologies, announced today additional plans to enter the alternative energy sector. The Company is currently in final negotiations to acquire a company that will own the rights to biodiesel technology, the fastest growing alternative fuel in America. iVoice will hold a majority interest in the new venture permitting it to consolidate the performance of these operations for financial reporting purposes.. The new venture, which is attempting to acquire a location in the southeastern U.S. to locate the biodiesel facility, has already received indications that a customer would enter into a contract to purchase the biodiesel, as soon as the facility is in commercial production.

 

"We are excited to be in the final stages of securing the technology and a suitable location to build a biodiesel plant," said iVoice Chairman and CEO Jerry Mahoney. "With energy prices near record levels, companies are increasingly turning to alternative energy providers to develop solutions. We are pleased that in a short period of time we will be in position to contribute to the country's efforts to secure a reliable alternative source of energy."

 

Biodiesel is a cleaner burning fuel that can be made from domestic renewable resources such as soybean oil. The alternative fuel can be used in any diesel engine with few or no modifications, in pure form or blended with petroleum diesel at any level. Biodiesel significantly reduces emissions while offering similar performance to diesel. Today, about 600 major fleets use biodiesel nationwide. More than 700 retail filling stations make various biodiesel blends available to the public, and 1,600 petroleum distributors carry it nationwide.

 

About iVoice, Inc.

 

iVoice has determined that the best way to create shareholder value, separate and apart from the operating performance of iVoice, is to implement new business opportunities by distributing shares of spin-offs to the company's shareholders. The common stock distributions are part of a broader strategy relating to the transition of iVoice into a company focused on the development and licensing of proprietary technologies. We also continue to search for potential merger candidates with or without compatible technology and products, which management feels may make financing more appealing to potential investors.

 

Certain information included in this press release, may contain forward-looking statements about our current and expected performance trends, growth plans, business goals and other matters. These statements may be contained in our filings with the Securities and Exchange Commission, in our press releases, in other written communications, and in oral statements made by or with the approval of one of our authorized officers. Information set forth in this press release contains various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Private Securities Litigation Reform Act of 1995 (the "Act") provides certain "safe harbor" provisions for forward-looking statements. The reader is cautioned that such forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Forward-looking statements speak only as of the date the statement was made. We assume no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

 

For more information on iVoice, please visit http://www.ivoice.com