September 25, 2009 (FinancialWire) — Evolution Fuels, Inc. (OTC: EVFL)  TODAY  board of directors authorized a stock repurchase program under which up to ten billion shares of its outstanding common stock may be acquired in the open market over the next six months at the discretion of management.

The shares will be purchased from time to time at prevailing market prices, through open market or unsolicited negotiated transactions, depending upon market conditions. Under the program, the purchases will be funded from available working capital, and the repurchased shares will be held in treasury or used for ongoing stock issuances such as issuances under employee stock plans. There is no guarantee as to the exact number of shares that will be repurchased by the company, and the company may discontinue purchases at any time that management determines additional purchases are not warranted.

Evolution Fuels’ CEO, Dennis McLaughlin, remarked, “The board’s approval of this program reflects our confidence in Evolution Fuels’ future. Repurchasing stock demonstrates our commitment to enhancing stockholder value.”

The company endeavors to market renewable transportation fuels at retail fuel stations that will provide blends of ethanol from 10% to 85% (E10 to E85), and biodiesel blends from 5% to 20% (B5 to B20).

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