EarthFirst Technologies Files Chapter 11
EarthFirst Technologies, Inc., and its wholly-owned subsidiaries have filed for Chapter 11 bankruptcy protection on June 13, 2008 in the U.S. Bankruptcy Court, Middle District of Florida, Tampa Division. The bankruptcy cases are being jointly administered under Case No. 8:08-bk-08639-MGW. The company has secured DIP financing and plans to reorganize.
EarthFirst Technologies is a specialized holding company engaged in researching, developing, and commercializing technologies for the production of alternative fuel sources and the destruction and/or remediation of liquid and solid wastes. Through its subsidiary World Environmental Solutions Co., the company is focused on investments in companies developing and marketing its Catalytic Activated Vacuum Distillation (CAVD) process, a technology that is used to recycle rubber tires and other waste. Through its subsidiary, SolarDiesel Corp., the company is focused on investments in companies facilitating commercial-scale production and distribution of biofuels.