LOS ANGELES, CA and LIMA, PERU–(MARKET WIRE)–Apr 21, 2009 — Stratos Renewables Corporation (OTC BB:SRNW.OB - News), an emerging agro-energy company developing a sugarcane ethanol project in South America, today announced Leonard Brooks has been elected to the company’s Board of Directors.
Making today’s announcement, Stratos’ CEO, Tom Snyder, stated, “This is another very important step for Stratos Renewables in our evolution. Leonard is a very accomplished finance executive and brings to us valuable experience and contacts that will help Stratos as we evolve into a rapidly growing agro-energy business.”
“Joining Stratos’ Board of Directors, which has such a wide and deep array of talent and expertise, is a terrific opportunity,” stated Mr. Brooks. “The Company’s goal of producing low carbon sugarcane ethanol at one of the lowest costs in the world is very exciting. I’m looking forward to assisting Stratos with completing its near term objectives to increase land holdings from 24,000 hectares to over 50,000 hectares by year end and to build out over 100 million gallons of production capacity to be supplied primarily by its own land. This team is one of the strongest groups I’ve had the pleasure to work with in the renewable energy industry and I’m excited to lend my expertise to our combined efforts.”
Biographies
Leonard Brooks is a senior investment banking professional with over 20 years of investment banking experience. Mr. Brooks founded and ran a number of investment banking initiatives at prominent firms including most recently the Private Equity Finance Group at Goldman Sachs, and the Private Equity Placement Group at UBS. He holds an MBA from the Fuqua School of Business at Duke University and has been a member of the Fuqua School of Business Isle Maligne Society since 1985. Mr. Brooks holds a BBA from The College of William & Mary.
About Stratos Renewables Corporation
Stratos Renewables Corporation intends to be a vertically integrated sugarcane ethanol player in Peru, committed to becoming the lowest cost producer of ethanol globally. The company believes Peru’s ideal growing conditions in the bare coastal desert, which allow for among the highest yields of sugarcane in the world, combined with the economic growth and expansion, illustrated by recent exponential growth in foreign direct investment, and GDP growth over the last five years, adds to Peru’s promise as an attractive location for the development of sugarcane plantations and production of ethanol. Rating agency DBRS recently assigned investment-grade credit ratings to Peru’s long-term foreign and local currency debt and, according to recent reports from several top financial institutions, the Free Trade Agreement struck between the US and Peru is expected to attract additional investment and contribute to continued economic growth. For information about Stratos Renewables Corporation, please visit: www.stratosrenewables.com
About Ethanol
Recent studies have demonstrated that ethanol is a clean burning biofuel produced from renewable sources, and can be grown year after year. In its most basic sense, ethanol is a grain alcohol and can be produced from sources such as corn and sugar. Pure ethanol is normally not used as a replacement for gasoline, but the integration of percentages ranging from 2% to 85% ethanol into a gasoline supply has the potential to cut down on not only the amount of oil consumed, but also on the emissions generated by the burning of that fuel. Studies indicate that ethanol significantly reduces harmful exhaust emissions, which contribute to global warming. According to a recent United Nations report, biofuels will account for up to 25% of the world’s energy needs by 2025.
