Kodiak has signed a deal to invest $20m in USA Synthetic Fuel over a six-month period, subject to certain conditions, at the company’s discretion.
USA Synthetic Fuel plans to file a registration statement with the US Securities and Exchange Commission covering the sale of any shares that may be issued to Kodiak under the deal.
Once the registration statement is effective, Kodiak is obligated to purchase shares of the company’s common stock from time to time at the company’s discretion.
Kodiak director of Research Feargal Gleeson said Kodiak is planning to partner with USA Synthetic Fuel management and adding the company to Kodiak budding portfolio of alternative energy companies.
USA Synthetic Fuel is an environmental energy technology company focused on building ultra clean btu converters.
