Technology Transfer Firm Partners with Local Alternative Energy Venture to Speed Commercialization: Innovation Management Partners, LLC Invests in

CLEVELAND (BusinessWire EON) May 16, 2007 --     The fast growing market for clean energy companies is developing new technologies that will help support the commercialization of clean, renewable sources of energy. The United States faces an increasing demand for alternative, renewable fuels, including clean-burning biodiesel and ethanol, as well as compressed natural gas and liquefied natural gas. Rapid growth in the need for alternative fuels dates back two years to the Energy Policy Act of 2005, which mandates that at least 7.5 billion gallons of America's annual gasoline consumption (roughly 5%) must come from renewable fuels by 2012. According to the U.S. Department of Energy, over 30 billion gallons of ethanol are needed to supply 30% of America's gasoline demand by 2025 (a near four-fold increase from 2012). President Bush has proposed governmental spending of more than $150 million on biomass fuel research, which creates a tremendous amount of new economic opportunity within the industry.

CleanFlo Technologies expects to use established gasification and gas-to-liquid conversion technologies to convert certain types of biomass and other raw source materials into alternative energy outputs, such as methane gas, compressed natural gas and cleaner-burning ethanol and biodiesel fuel. Ongoing advances in gasification technologies are making it more economical to capitalize upon the burgeoning growth in the emerging waste-to-renewable energy industry. CleanFlo expects to help its customers, the environment, and society at large by providing simple, effective solutions for converting raw source materials into alternative energy outputs. Unlike many of its competitors, CleanFlo intends to focus on arranging and developing smaller-scale commercial projects using its proprietary solutions for converting raw source materials into alternative energy along the entire supply chain, from end to end.



Jeffery Bruce, Managing Director of CleanFlo Technologies, commented, "Innovation Management Partners will use its existing business network, and experience in technology transfer and marketing to assist CleanFlo to capitalize, both socially and economically, on the important worldwide trend of increasing demand for alternative fuels. While many venture capitalists are anxious to fund growth companies engaged in the adoption and commercialization of emerging renewable energy technologies, Innovation Management's commitment to our business goes beyond that, now stepping in as a bona fide partner in our growth by taking this equity stake. Their network and experience will be of tremendous assistance to CleanFlo in commercializing our gasification projects, which are intended to bring industry-shaping improvements to the existing market for gasification and gas-to-liquid conversion technologies."

David Reitzel, Managing Partner, Innovation Management Partners, noted that "Innovation Management is in the business of developing and managing innovations specifically to develop value. Making targeted investments in companies like CleanFlo Technologies LLC helps to strengthen this important emerging segment, while sending a strong message that we value and support innovation in the clean energy market. Innovation Management works with emerging companies and technologies with the mindset of establishing a long-term advisory relationship. This investment reflects that perspective, and makes us even more closely aligned now with the alternative fuels marketplace."

About Innovation Management Partners, LLC

Innovation Management Partners, LLC provides comprehensive solutions for transforming and embracing the Innovation Ecosystem, helping companies commercialize and source new technologies, managing intellectual property, and providing intellectual property consultation. Innovation Management is a leader in technology transfer, providing unparalleled access to breakthrough technologies. Whether it is sourcing from Asia, Europe, or North America, Innovation Management is developing a technology-sourcing network. For more information about Innovation Management Partners, visit www.innovationmgt.com.

About CleanFlo Technologies, LLC

CleanFlo Technologies LLC is an emerging venture organization, created to solve the critical and immediate market need for alternative fuels. Using its proprietary end-to-end raw source materials-to-alternative energy conversion solution, CleanFlo is focused on arranging and developing smaller-scale commercial projects involving all aspects of producing, capturing, marketing, and selling commercial energy outputs derived from biomass and other raw source materials.

The statements contained in this press release contain certain forward-looking statements, including statements regarding the company's expectations, intentions, strategies, and beliefs regarding the future. All statements contained herein are based upon information available to the company's management as of the date hereof, and actual results may vary based upon future events, both within and without the control of the company's management. Innovation Management Partners, LLC and CleanFlo Technologies, LLC assume no obligation to update any forward-looking statement contained in this press release.

Keywords: Innovation, Commercialization, Technology, Gasification, Alternative Fuel and Renewable Energy