Frank Crivello, Managing Member, Crivello Group, LLC Announces Equity Investment in ReFuel America, Inc.

ReFuel America to complete merger with public company and additional equity financing.

Pompano Beach, FL (PRWEB) June 28, 2005 -- Frank Crivello, Managing Member, Crivello Group, LLC (“CG”) and NNN Group, Inc., www.nnn.net, announced today that their principals made equity investments in ReFuel America, Inc., a Delaware corporation, the successor to ICF Industries and Advanced Fuel Chemistry, Inc. (“AFC”).

Earlier this year Frank Crivello announced CG provided ICF Industries, a UK-based company, a Delaware corporation, ReFuel America, Inc., and their management including Ian Williamson and Cliff Hazel (collectively "ReFuel America") with consulting services relating to, among other matters, the strategic acquisition of Ray Thomas Petroleum Company, a prospective merger with a public company and financing for the combined entities.

On May 31, 2005 Frank Crivello announced that CG terminated all relations and agreements with AFC, Ray Thomas Petroleum Company, and their affiliates due to material disagreements with AFC and their management relating to the acquisition of Ray Thomas Petroleum Company. On June 10, 2005, ReFuel America terminated all its agreements and relations with Ray Thomas Petroleum Company and renewed its relationship with CG.

ReFuel America fuel additives are proprietary and complex. When blended into distillates or gasoline, these additives positively alter the molecular composition of the fuel. This results in a finished fuel that increases miles per gallon and fuel lubricity, while reducing harmful emissions including Carbon Dioxide, Nitrous Oxide, black smoke, and particulates. ReFuel America’s technology improves on previous technology commercialized.

CG Managing Member Frank P. Crivello stated: “Cliff Hazel and Ian Williamson are inventors with a long and rich tradition of creating commercially viable energy technologies. With the recent changes in Refuel America’s strategic direction, we share management’s vision for its future. As for ReFuel America’s strategic objectives, we are negotiating with a public company to complete a merger of ReFuel America into it.”

About NNN Group, Inc., www.nnn.net: NNN provides ReFuel America with real estate advisory services.

About Crivello Group, LLC www.crivello.com: CG is a strategic advisors and partners to emerging and distressed companies. CG’s solutions for emerging or distressed companies that include:

- Stabilization
- Capital & Debt Alternatives
- Staff, Boards, and Professionals
- Divestiture & Dissolution
- Plan of Restructuring or Reorganization

Safe Harbor Statement Under the Private Securities Litigation Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of CG could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company’s operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.

Contact:
New-School Communications, LLC
Blois Olson, 651-221-1999
www.new-school.com

# # #

Source :  http://www.prweb.com/releases/2005/6/prweb256025.htm