updated: 5/22/2012 11:25:19 AM
Fort Wayne-based Freedom Energy Holdings Inc. says it has secured an $800,000 round of funding from a California investment firm. Chief Executive Officer Brian Kistler says the money will help develop new technology designed to recover energy sources from landfills.
May 22, 2012
Fort Wayne, Ind. -- Freedom Energy Holdings, Inc. (Pink Sheets: FDMF.PK) CEO, Brian Kistler, today announced that DME SECURITIES, LLC a New York Stock Exchange Member, has secured a commitment for $800,000 from Kodiak Capital Group, LLC, a Newport Beach-based private investment fund.
Brian Kistler stated, "As we continue to grow and diversify our interests, Kodiak is the perfect partner for Freedom Energy Holdings as we continue to make inroads into the most suited markets for the deployment of our proprietary technologies KC 9000® and Patent Pending SR-139."
Ryan Hodson, Managing Director, Kodiak Capital Group, LLC, commented, "Freedom Energy is a perfect match for our interest in the oil and gas industry as well as the renewable energy. We are especially interested in the SR-139 process for the recovery of the hydrocarbons from the over 11 million tons of asphalt shingles disposed annually. The potential market for Patent Pending SR-139 is very exciting and we at Kodiak see the advantages of making this sizable commitment into Freedom under Mr. Kistler's direction."
Kistler continued, "With assistance from Kodiak I will be able to start the development and creation of the mechanical process that will allow us to recover the over 2 million tons of hydrocarbons being thrown away each year in landfills. I am thankful for their confidence and the guidance I have received from DME. With this team in place we will no longer be captivated by the inability of others to perform."
"Further, I am happy to report that the KC 9000® shipped to the Middle East has been cleared through customs and is in the control of our agent. Bench tests have begun and even though there have been delays, all is on track and I look forward to bringing further updates as they are made available," concluded Kistler.
ABOUT KODIAK CAPITAL GROUP, LLC
Kodiak is an institutional investor headquartered in Newport Beach, CA. Kodiak's experienced professionals manage a portfolio of investments in public and private entities. These investments are in a wide range of companies and industries emphasizing life sciences, energy and technology. Kodiak's investments range from multiyear financial commitments to fund growth to special situation financings to long-term strategic capital offering companies certainty, flexibility and consistency. For more information, visit www.kodiak-capital.com
ABOUT DME SECURITIES, LLC
DME SECURITIES, LLC, headquartered in New York, is a member of the New York Stock Exchange, National Association of Securities Dealers, Financial Industry Regulatory Authority, and the Securities Investor Protection Corporation. DME is a full service financial firm providing comprehensive financial advice and superior service to the individual and institutional investors and serves clients through a network of professionals.
ABOUT FREEDOM ENERGY HOLDINGS, INC:
Freedom Energy Holdings, Inc. (FDMF.PK) is a publicly traded company that specializes in the identification and development of technologies with commercial applications in the energy industry sector. The company's original primary focus is the commercial development of its proprietary, heavy oil technology. KC 9000®, a breakthrough technology, provides an effective and cost efficient system to enable heavy oil deposits to flow without heat. Recent research has developed and shown SR-139 to be effective at breaking down asphalt shingles allowing the recovery of hydrocarbons.
Source: Freedom Energy Holdings Inc.