Green gasoline company CORE BioFuel Inc. engages Osprey Capital Partners Inc. to secure investment for construction engineering
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.