Raven Biofuels International Corporation (OTCBB: RVBF) ("Raven" or the "Company") is pleased to announce that the research firm of Murphy Analytics LLC has initiated its equity rating on Raven. The report is available online at: http://www.murphyanalytics.com/uploads/RVBF_Initiation.pdf.
This newly arrived at price target has been developed as a result of Company efforts towards the completion of several agreements that will launch Raven's biofuels strategy providing technology and partners to build clean, renewable biorefineries globally.
Raven is initially pursuing its strategy in Washington State and British Columbia (BC) and is focused on low-cost, non-food biomass as the feedstock for its biorefineries. The proposed BC refinery plans to utilize wood waste and Mountain Pine Beetle softwood as a possible source of feedstock. In a March 2008 press release, the BC Government stated that "The Ministry of Forests and Range and the Council of Forest Industries estimate that the mountain pine beetle has now affected about 710 million cubic metres of timber." Further, "There are about 1.35 billion cubic metres of merchantable pine on B.C.'s timber-harvesting land base. If the infestation continues to behave as it has over the past nine years, it's projected that 76 percent of this pine volume will be killed by 2015." It is estimated that the area covered by the pine beetle infestation in BC alone is nearly the size of Texas. Another large area of the pine killed forests extends down the West Coast in to Washington and Oregon.