MIAMI, FL --- Green-energy holding company HydroGenetics Inc. announced it has agreed to acquire Buffalo Biodiesel.

Buffalo Biodiesel, which sells biodiesel and processes yellow grease for the production of biodiesel, will become a wholly owned subsidiary of HydroGenetics.

"This agreement signals yet another segment of the green energy world HydroGenetics Inc. will contend in," said CEO Marc Walther. "Our emerging technologies, combined with the revenues generated by our new subsidiary, provide us with the necessary cash flow to grow our biodiesel business short term while we are executing our long-term financing strategy and the development and commercialization of green technologies in our pipeline."

Another HydroGenetics subsidiary, HydroAxis Technologies, is now developing green hydrogen-generating technology systems for internal combustion engines to reduce gasoline consumption in existing and new vehicles.