The name change is part of the firm's strategy to develop, produce and distribute other forms of clean and renewable energy, according to a press release.
Moving away from a strictly biofuel focus is smart, said Rajat Deb, president of LCG Consulting, Los Altos, Calif.
"People who are changing their names for the sake of changing their names are only painting their house," Deb said. "Those who are making big changes in their business will survive the coming changes. Go into wind. Go into solar."
The renewable energy industry can play a major role in leading the country out of its current economic conditions by virtue of job creation, technological innovation and moving the country towards energy independence, Dennis McLaughlin III, chairman and chief executive officer of Earth Biofuels, said in the release. "It is our view that many of the economic problems faced by this country are the direct result of not producing adequate forms of energy from available domestic sources. We plan to play a part of solving this problem."
As part of its evolution, Evolution Energy plans to:
