Encore Energy Systems to acquire biodiesel plant
March 9, 2009
BY Anna Austin
Web exclusive posted March 20, 2009, at 1:26 p.m. CST
Encore Energy Systems Inc., a Mississippi-based based company that focuses on biodiesel reactor technology, fuel distribution, production systems and fuel production facilities, recently announced that it has signed a Letter of Intent to acquire Geo Green Fuels Gonzales LLC's 3 MMgy biodiesel production facility in Gonzales, Texas.
In mid-March, Encore Energy Systems unveiled plans to acquire various biodiesel production facilities that are typically operating under capacity and can be purchased at significant discounts. (Read "Encore Energy plans to acquire biodiesel plants.")
The multi-feedstock capable facility, which is located on 15 acres adjacent to railways, is expected to generate approximately $8.5 million annually.
In February, in preparation for the acquisitions, Encore Energy Systems entered into an agreement with Chicago, Ill.-based Zenergy International Inc. which will provide biofuel plant management services, biofuel feedstock allocation and purchasing, as well as market development services.
The company believes the consolidation of underutilized and distressed biodiesel assets will position it as a premier global producer and distributor of biodiesel, which is a component of its 2009 acquisition and growth plan.
Encore Energy Systems Inc., a Mississippi-based based company that focuses on biodiesel reactor technology, fuel distribution, production systems and fuel production facilities, recently announced that it has signed a Letter of Intent to acquire Geo Green Fuels Gonzales LLC's 3 MMgy biodiesel production facility in Gonzales, Texas.
In mid-March, Encore Energy Systems unveiled plans to acquire various biodiesel production facilities that are typically operating under capacity and can be purchased at significant discounts. (Read "Encore Energy plans to acquire biodiesel plants.")
The multi-feedstock capable facility, which is located on 15 acres adjacent to railways, is expected to generate approximately $8.5 million annually.
In February, in preparation for the acquisitions, Encore Energy Systems entered into an agreement with Chicago, Ill.-based Zenergy International Inc. which will provide biofuel plant management services, biofuel feedstock allocation and purchasing, as well as market development services.
The company believes the consolidation of underutilized and distressed biodiesel assets will position it as a premier global producer and distributor of biodiesel, which is a component of its 2009 acquisition and growth plan.
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