Thanks to Janis from Texas for this picture.
– Evolution Fuels, Inc. today provided an update regarding the recent financial performance of the Willie’s Place at Carl’s Corner Truck Stop, of which the Company owns a membership interest.
The state-of-the-art truck stop features 12 diesel/biodiesel fueling lanes for tractor-trailers plus a wide load island. There is a separate fueling island for cars and trucks. In addition to the truck stop fueling facilities, “Willie’s Place at Carl’s Corner” features two restaurants, a convenience store, a saloon, a gift shop featuring official Willie Nelson merchandise and memorabilia, and the 500 seat “Night Life” theater that features regular live music performances.
Since the opening of the facility in December 2009, the truck stop has demonstrated significant improvement with respect to financial performance. Whereas the facility experienced average net losses (before interest, taxes, and depreciation) of more than $70,000 per month for the first quarter of 2009, the following three quarters averaged net losses of $16,000 per month. During the first quarter of 2010 the truck stop averaged net gains (before interest, taxes, and depreciation) of $14,000 per month, which improved to $43,000 per month during the second quarter of 2010.
The Improvements are due mostly to increased fuel sales concurrent with decreased operational expenses. Management expects performance to continue to improve as fuel volumes continue to increase.
About Evolution Fuels, Inc.
Evolution Fuels, Inc. endeavors to market renewable transportation fuels at retail fuel stations that will provide superior quality fuels to competing fuel stations by virtue of the blending capability within the fuel dispensers at its stations and offering the blends at competitive prices. The stations will offer ethanol/gasoline blends of fuel including 10% ethanol/90% gasoline (E10), 20% ethanol/80% gasoline (E20), 30% ethanol/70% gasoline (E30), and 85% ethanol/15% gasoline (E85). The latter three blends are intended for flex-fuel vehicles, although recent studies have shown that many legacy vehicles on the road today may use E20 and E30 blends without incurring damage to the engines or fuel systems. The Company’s plan calls for the development of a chain of renewable fuel stations in the southwestern and southeastern United States that will be a combination of “Evolution Fuels”-branded fuel stations/convenience stores and western-motif truck stops modeled after Willie’s Place Truck Stop in Carl’s Corner, TX. The Company’s Web site is www.evolution-fuels.com.
