Native American tribes enter biodiesel arena

By Jessica Sobolik | January 01, 2008
Goshen Energy Resources Inc., a wholly owned subsidiary of City Capital Corp., has signed a joint venture contract with Native American Biofuels International, which represents the biofuels interest of nearly a dozen Native American tribes.

The partnership has three primary objectives: to facilitate the development of biofuels and other renewable energy resources, and the infrastructure necessary to implement such a program; to establish a low-cost feedstock source on tribal lands to produce biodiesel at higher profit margins; and to secure base operating services contracts with governmental departments.

The first phase of the partnership agreement includes the procurement of a five- to 10-year purchase contract, which Goshen projected at press time to be in place by December 2007.

"Goshen Energy Resources provides NABI with a more technologically advanced and strategic approach to developing and distributing biofuels," said James Cooke, NABI chief executive officer. "This [joint venture] will allow the tribes we represent an opportunity to broaden their profit potential in a positive way, utilizing Goshen's advanced systems, processes, and extensive government and community relationships."

In August, Goshen Energy announced its plan to enter the bioenergy industry by investing in biodiesel production. "Our partnership with [NABI] provides us a stable crop source for biodiesel production to service our customers over the longer term," said Ephren Taylor, City Capital chief executive officer. "Additionally, [Cooke] brings us over 15 years of experience in securing significant multi-million dollar governmental contracts. We believe this partnership with help us directly increase our shareholders' value and enhance our bottom-line profits."

Initially, Goshen Energy also planned to build five regional hubs to distribute its biodiesel. Possible locations included coastal South Carolina; Louisville, Ky.; Las Vegas; Philadelphia; Dover, Del.; Los Angeles; and Dallas. "It was the urging of several individuals and groups in these five cities that encouraged us to pursue the biofuels arena," Taylor said.
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