Adino Energy Corporation is a wholesale fuel distributor and fuel terminal operator with headquarters in Houston, Texas. Founded in 1981, and trading on the OTCBB, Adino Energy offers storage, delivery, and blending of diesel fuel. They also offer biodiesel to the “green” fuels market. Through their subsidiary, Intercontinental Fuels, LLC, the company operates a fuel storage terminal in Houston, Texas. This terminal distributes petroleum-based products and bio-diesel to local wholesale and retail fuel distributors.
Adino Energy Corporation’s fuel terminal, adjacent to George Bush Intercontinental Airport , is located near refineries and fuel pipelines in north Houston. The terminal has attracted storage contracts for both large and small oil companies. This terminal has seven fuel storage tanks with a capacity of 160,000 barrels of product (6,720,000 gallons), and currently operates at 100-percent storage capacity. The company’s customers include Metropolitan (METRO) Transit Authority of Harris County, Texas ( Houston ‘s mass transit system), ADA Resources, C.L. Thomas, O’Rourke Petroleum, and Gulf Hydrocarbons.
On Aug. 1 Adino Energy Corporation announced they have launched their newly designed website at http://www.adinoenergycorp.com. “We are pleased to announce the successful launch of our new website, designed to help visitors better understand our corporate operations, get information on the company’s stock, and generally enhance their ability to easily and quickly communicate with Adino Energy Corporation,” commented Timothy G. Byrd, Sr., Adino Energy Corporation’s chief executive officer.
Adino Energy Corporation’s results, filed with the United States Securities and Exchange Commission for the first quarter of their fiscal year ended March 31, 2008, showed an increase in first quarter revenues. Total revenue reported for the first quarter was $444,203, an increase of 97 percent from the first quarter of 2007. Net income for the quarter was $410,099, or $0.01 per share, up from a net loss of ($354,772) in the same period during 2007.
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