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.”
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Reps. Mike Carey, R-Ohio, and Mariannette Miller-Meeks, R-Iowa, on May 1 introduced legislation that aims to retroactively extend the biodiesel blenders tax credit (BTC) and the second-generation biofuel producer tax credit.
Canada-based Imperial Oil Ltd. on May 2 confirmed that construction on the renewable diesel facility at its Strathcona refinery near Edmonton, Alberta, will be complete during Q2. The project is expected to begin operations in mid-2025.
A new study commissioned by Clean Fuels Alliance America shows the U.S. biomass-based diesel industry generated $42.4 billion in economic activity in 2024, supported 107,400 jobs and paid $6 billion in annual wages.
BWC Terminals on April 22 celebrated the official completion of its expanded renewable fuels terminal at the Port of Stockton. The facility is designed to safely and efficiently transfer renewable diesel and biodiesel from marine vessels.
Repsol and Bunge on April 25 announced plans to incorporate the use of camelina and safflower feedstocks in the production of renewable fuels, including renewable diesel and sustainable aviation fuel (SAF).