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Green gasoline company CORE BioFuel Inc. engages Osprey Capital Partners Inc. to secure investment for construction engineering
25 January 2012
Canada-based biomass-to-gasoline company CORE BioFuel Inc. (earlier post) has signed an exclusive agreement with Osprey Capital Partners Inc., based in Toronto, Canada. Osprey Capital will secure equity investment capital to fund the completion of construction engineering for CORE’s first wood-to-Green Gasoline plant to be built in Canada.
This step will enable CORE to establish an Engineering, Procurement and Construction (EPC) contract with an international oil/gas engineering company to define a fixed plant cost. The EPC contract will allow CORE to secure project debt financing and performance guarantees for the plants through AON Reed Stenhouse, one of the largest insurance brokers in the world.
Osprey’s work for CORE will be headed by Alan Crossley, who has more than twenty-five years of experience in the chemical, petroleum, and renewable fuels industry.
Osprey Capital is very pleased to be working with the CORE team. CORE will be producing a carbon neutral, market ready gasoline utilizing existing technologies, has secured an off-take agreement and has a significant competitive advantage in terms of production costs. This makes the CORE project an excellent investment opportunity. Osprey has seen a significant number of bio-based fuel projects, and we believe CORE BioFuel will become the market leader.
—Alan Crossley
CORE’s Green Gasoline will be a 94-octane, clean-burning alternative to conventional gasoline from petroleum sources. A CORE BioFuel plant will not only produce gasoline from unwanted wood waste but its by-products will consist of water, electricity to run its own operation, and carbon dioxide suitable for commercial use.
January 25, 2012 in Brief | Permalink | Comments (2) | TrackBack (0)
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"Those who forget the mistakes of the past are destined to repeat them" - unknown
This sounds a lot like Range Fuels....just sayin'.
"By the time the project folded, federal taxpayers had invested about $84 million and gotten $2 million back. Of that total, $44 million was in the form of a U.S. Department of Energy grant (originally approved for $76 million). The rest was the Department of Agriculture loan guarantee, which was originally approved for $64 million."
“For the liquid biofuels, nobody who has gotten these DOE grants are close to being commercially viable”
Range Fuels failure raises the question: How much risk should the government take with taxpayer dollars?
http://www.macon.com/2011/12/18/1828816/green-gamble.html
Posted by: ejj | January 25, 2012 at 02:03 PM
This is a different method and that question would be up to the Canadian tax payers.
Posted by: SJC | January 25, 2012 at 07:46 PM