A Bermuda registered company is looking to acquire a licence to distribute biofuels across the Caribbean.

Infinite Holdings Group, Inc. announced yesterday that it has entered into a letter of intent with Pioneer Petroleum to acquire an initial licence to distribute biofuels throughout the Caribbean. Pioneer's licence is based in the Turks and Caicos Islands which Infinite envisions to become the beta testing market for its initial distribution efforts. The agreement is subject to a period of due diligence by both parties and any eventual acquisition will be subject to a definitive agreement and board approval.

Ashley Redmond, chief executive officer of Infinite Holdings Group, Inc. said: "We are of the opinion that the price of fuel will continue to rise and this initiative seeks to provide a cost effective alternative for the energy needs for the Caribbean consumer. We are also cognizant of the beneficial factors of biofuels such as biodiesel in relation to the environment."

Infinite Holdings also announced that in its efforts with respect to the Habiquad system, it is currently seeking government planning approvals in order to then begin a comprehensive marketing and distribution strategy.

Infinite Holdings Group focuses on Caribbean growth opportunities particularly those which involve Caricom member and associate member nations.