HGP to auction off 10 percent interest in Calif. biodiesel firm
Asset advisory and auction firm Heritage Global Partners announced it will be holding a telephonic auction of nearly 10 percent economic interest in North Star Biofuels LLC and related intellectual property owned by R Power Biofuels and Sauber LLC, including a patent and certain trade secrets. The auction will take place Oct. 7 from 10 a.m. to 12 p.m. Pacific Time.
The winning bidder will acquire a 9.871 percent economic interest in a Watsonville, Calif.-based company that owns and operates a 15.3 MMgy continuous flow multifeedstock biodiesel facility with integrated feedstock supply.
For access to the Biodiesel Auction Virtual Data Room and to officially register for the Oct. 7 sale, interested parties must contact Nick Dove, director of sales at Heritage Global Partners, to sign a required Non-Disclosure Agreement and be preapproved as a qualified, participating bidder.
“We are very excited to manage this upcoming UCC telephonic auction, which presents a rare and unique opportunity for a successful bidder to purchase a nearly 10 percent economic interest stake in a leading, California-based commercial scale biodiesel company,” said Dove. “The winning bidder will also acquire certain intellectual property including a valuable patent and other trade secrets.”
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