Encore Energy Systems has executed a letter of intent to acquire Geo Green Fuels’s Gonzales biodiesel production facility located in Texas.
The company claims that the facility is expected to generate approximately $8.5 million in revenue per year. It is also capable of producing three million gallons of biodiesel per year and is located adjacent to railways for fuel distribution.
Encore said that the facility has multi-feedstock technology allowing throughput fuel production and ability to meet the rising demand.
In preparation for the acquisition and subsequent acquisitions, the company has entered into an agreement with Zenergy International to provide biofuel plant management services and feedstock allocation. The agreement will provide mission critical management and provisioning services to the Company’s biofuel production facilities and associated feedstock infrastructure.
Earlier in the second week of February 2009, Encore Energy announced that it completed its acquisition of BioConversions International. All record-date stockholders and all prior EGVI stockholders will receive, pro rata, $2,000,000 in Convertible Preferred Stock. The Preferred Stock may be converted into Common Stock annually.
Encore Energy and BioConversions (ENCS) is an international aggregator biodiesel reactor technology, fuel distribution, production systems and fuel production facilities. The company also owns the patents for the use of grey-water, and domestic water in heat exchanger systems. They also provide conventional geothermal heat exchange systems.
