September 10, 2014
BY Ron Kotrba
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.”
Advertisement
Click here for more information.
Advertisement
CoBank’s latest quarterly research report, released July 10, highlights current uncertainty around the implementation of three biofuel policies, RFS RVOs, small refinery exemptions (SREs) and the 45Z clean fuels production tax credit.
The U.S. Energy Information Administration maintained its forecast for 2025 and 2026 biodiesel, renewable diesel and sustainable aviation fuel (SAF) production in its latest Short-Term Energy Outlook, released July 8.
XCF Global Inc. on July 10 shared its strategic plan to invest close to $1 billion in developing a network of SAF production facilities, expanding its U.S. footprint, and advancing its international growth strategy.
U.S. fuel ethanol capacity fell slightly in April, while biodiesel and renewable diesel capacity held steady, according to data released by the U.S. EIA on June 30. Feedstock consumption was down when compared to the previous month.
XCF Global Inc. on July 8 provided a production update on its flagship New Rise Reno facility, underscoring that the plant has successfully produced SAF, renewable diesel, and renewable naphtha during its initial ramp-up.