Stratos Renewables Corp announced tonight after the bell that it has entered into a strategic alliance with affiliates of RNK Capital LLC to construct and manage commodity transactions in the global emissions trading market, including environmental products that Stratos may produce while conducting its sugar cane ethanol business. As terms of the agreement, Stratos will receive a percentage of the profits derived from sales of its environmental products. Stratos also announced in the press release that it has secured an equity investment from affiliates of RNK.
“Stratos Renewables is pleased to be partnering with RNK on what we believe will be a significant opportunity provided by our production of sugar cane ethanol in Peru,” stated Stratos Chairman and President, Steve Magami. “We are very proud to be working with a leader in the business of carbon credits. RNK and its affiliates continue to break new ground in this emerging energy segment, and Stratos is excited to be working with them to create greater value for our investors.” RNK and its affiliates will manage all sales of environmental products for Stratos Renewables as part of their strategic agreement.
“We’re excited to have entered into this strategic partnership with Stratos Renewables,” said David Lee of RNK Capital. “We believe that Stratos is positioned ideally to leverage their sugar cane ethanol operations in Peru into projects that may generate greenhouse gas emission reduction credits.”
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