[Gasification] BIOMASS ENERGY COMPANY

[Benjamin Domingo Bof]

Allegro Biodiesel in Discussions to Acquire Biomass Energy Company

Allegro Moves to Diversify in Bio-Energy Sector
November 16, 2007: 08:00 AM EST

LOS ANGELES, Nov. 16 /PRNewswire-FirstCall/ -- Allegro Biodiesel Corporation 
today announced that it has extended a $500,000 bridge loan to Littleton, 
Colorado-based Community Power Corporation (CPC) as a first step in potentially 
acquiring the company. 
Established in 1995, privately-held CPC is a leading developer of small 
modular bioenergy technology and products, which gasify a wide range of biomass 
residues for generation of power, heat, and synthetic fuels as a substitute for 
fossil fuels such as natural gas, propane and diesel. The company's 
proprietary gasification system has successfully processed over 30 different biomass 
feedstocks including wood, nutshells, grasses, paper and plastics. The 
company has received more than $12 million in R&D funding and technical assistance 
from the U.S. Department of Energy (DOE/NREL), the U.S. Department of 
Agriculture (USDA/US Forest Service), the U.S. Department of Defense (USDOD/US 
Army), the California Energy Commission (CEC), and other organizations. Under 
these R&D projects, since 1998 CPC has built and shipped 24 modular biopower 
units to product development and demonstration sites in the U.S., the 
Philippines and El Salvador. 
"Our agreement paves the way for Allegro to add biomass conversion to our 
core competency of biofuels production," said Allegro Biodiesel Chief Executive 
Officer Bruce Comer. "CPC is a top player in this space with proven, 
environmentally-sound modular bio-energy technology." 
CPC develops automated, modular energy systems under the BioMax(R) trade 
name. These systems are designed for on-site conversion of biomass residues to 
clean energy for farms, schools, small manufacturing enterprises, communities, 
military encampments and other on-grid and off-grid applications. 
"It is estimated that the addressable market for CPC's unique modular 
biopower systems is over $3 billion per year," said Comer. "Assuming completion of 
a final agreement, it is Allegro's intention to drive these systems to the 
next level of commercialization." 
Terms of the Agreement 
Under the terms of the agreement announced today, Allegro loaned $500,000 to 
CPC for a Secured Promissory Note. The Note accrues interest at 7% per annum, 
is due on June 1, 2008, and is secured by all the assets of CPC. 
To fund this loan, Allegro used proceeds from the exercise of stock warrants 
held by certain of its existing investors. The complete terms of this 
transaction are detailed in Allegro's Form 8-K filed today with the SEC. Allegro 
and CPC will continue exploring further strategic investments into the company 
and a potential business combination. 
Comer concluded, "Each year, the United States alone generates over a billion 
tons of biomass residues that could be converted to useable, clean energy. 
We believe CPC's technology holds great promise to reduce our reliance on 
fossil fuels and drive energy independence, which is line with Allegro's 
overarching mission as a producer of biofuels." 
About Community Power Corporation (CPC) 
CPC was co-founded by renewable energy industry veterans Robb Walt and Art 
Lilley, both of whom had long tenures with Westinghouse. In 1998, the company 
was one of four companies to receive funding from the U.S. Department of 
Energy to develop small modular biomass power systems. 
The unique BioMax gasification process has been proven successful across a 
broad range of biomass materials such as wood chips, nut shells (walnut, almond 
pecan, coconut, etc.), pelletized switchgrass, pelletized fruit skins, as 
well as cardboard and paper mixed with synthetic materials such as plastic 
utensils. 
In a typical setting, a BioMax system (in combined heat- and power-mode) 
converts approximately two pounds of dry biomass to one kWh of electricity and 
two kWh of thermal energy. When commercialized, CPC's new Fischer-Tropsch 
process module ("LiquiMax") addition to the BioMax system will convert 
approximately one ton of biomass to 50 gallons of synthetic diesel fuel. These systems 
generate no hazardous waste, and were independently tested and found to meet 
California Air Emission Standards for small generators. 
CPC is based in Littleton, Colorado and has 26 full-time employees. More 
information is available at the company's web site at www.gocpc.com 
About Allegro 
Allegro Biodiesel Corporation is a producer and distributor of biodiesel 
fuel. Allegro operates a production facility located in Pollock, Louisiana that 
uses renewable agricultural-based feedstock to produce biodiesel. Allegro 
began sales in April 2006, becoming the first operational biodiesel producer in 
the state of Louisiana. For more information please visit the Company's 
website at www.allegrobiodiesel.com.










       
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