ECSL Announces That It’s Subsidiary, CyberFuels, Inc., Has Executed a Purchase and Sale Agreement and Completed Its Due Diligence to Acquire Land and Adjoining Canal at the Port of Tampa
EncounterCare Solutions, Inc. (ECSL) announced that its subsidiary, CyberFuels, has entered a Purchase and Sale Agreement for over 65 acres in the Port of Tampa. This site will host a new fuel blending and distribution terminal, previously used by a major oil company. CyberFuels aims to build a facility capable of storing up to 1.5 million barrels of environmentally friendly fuels. The estimated capital needed for Phase 1 is approximately $75 million, with an additional $62 million to complete subsequent phases, targeting significant throughput capacity by Phases 2 and 3.
- Strategic acquisition of 65+ acres at the Port of Tampa to enhance operational capacity.
- Plans to store up to 1,500,000 barrels of renewable fuels, indicating growth potential.
- Phase 1 aims for 750,000 barrels throughput per month, expanding to 2,900,000 barrels by Phase 3.
- Total estimated capital requirement of $137 million for purchase and development could strain financial resources.
- Dependence on long-term contracts for success may pose risks if market conditions fluctuate.
PALM BEACH GARDENS, Fla., July 12, 2021 (GLOBE NEWSWIRE) -- EncounterCare Solutions, Inc. (OTC BB: ECSL) is pleased to announce that its wholly owned subsidiary, CyberFuels, Inc., has completed a binding Purchase and Sale Agreement in connection with the purchase of 65+ acres of real estate at the Port of Tampa, inclusive of its on-going businesses there. CyberFuels intends, after closing, to build its new environmentally friendly, state-of-the-art fuel blending and distribution terminal on this excellent site, previously used as a major oil company’s tank terminal. The businesses being purchased are responsible for maintaining logistical operations of incoming and outgoing tanker and barge traffic on the canal, maintaining Army Corp of Engineering canal maintenance and depth requirements of the canal, and charging for and collecting the costs and expenses to keep the canal running correctly and efficiently. CyberFuels has completed its due diligence and is moving to close the transaction as soon as possible, on or about August 3, 2021, subject to certain conditions to closing. CyberFuels expects to begin permitting as soon as possible with construction to begin once those permits are obtained.
John Lawrence (President of CyberFuels) stated, “We are very excited about achieving this Definitive Agreement to acquire these properties and the businesses necessary to develop our state-of-the-art terminal which will greatly expand the opportunities for CyberFuels throughout Florida, the US and abroad.”
The real property portion of the acquisition is comprised of 65+ acres of land, including certain riparian rights, in the Port of Tampa along with an operational shipping wharf. The property has excellent interstate access, existing rail service and wharf facilities for barge and large tanker deliveries and sales. Plans are to develop, through partnerships, portions of the property to accommodate CyberFuels corporate office as well as planned commercial office and storage space suited to regional companies conducting business at the terminal and in markets around Florida. Management is currently in negotiations with potential tenants to lease space in the terminal office facility as well as leasing some land that will not be needed for CyberFuels’ growth subject to closing this purchase.
CyberFuels plan is to complete its first set of large-scale liquid contracts for the new terminal and has a goal for phase one of the overall program to include more than 580,000 barrels (which is over 24 million gallons) of storage and ultimately grow to approximately 1,500,000 barrels (63+ million gallons) of storage. CyberFuels’ program is intended to include large-volume liquid storage built upon long-term contracts for cleaner fuels including Bio-advantaged and renewable fuels for gasoline, diesel, jet A, and marine bunker fuel for delivery to markets in Florida. Additionally, CyberFuels seeks to store, blend, market and support its proprietary, and environmentally responsible, products marketed under our Dynamo and EcoFlex brands. When blended with regular gasoline and diesel, these additives increase mileage, reduces emissions, and are less costly than unblended gasolines and diesel fuels. CyberFuels’ business plan is to generate approximately 750,000 barrels (31+ million gallons) per month of throughput in PHASE 1 and ultimately generate up to 2,900,000 barrels (over 120 million gallons) of throughput by PHASE 3 of Jet A, diesel fuel, gasoline, and biofuels including the CyberFuels branded products. CyberFuels expects that capital costs of the purchase, construction, development and working capital necessary to build and operate the terminal will require approximately
The management team at CyberFuels is committed to creating and operating the new CyberFuels facility as a world-class energy complex; in other words, a complete campus incorporating environmentally responsible solar and green energy initiatives for our community and partnering companies. Currently, CyberFuels has engaged Currier & Company of Los Angeles, California to conduct program scoping and pre-purchase design engineering. Jonathan Currier has been selected as the Programming Director and Chief Project Engineer.
About CyberFuels™: CyberFuels Inc. delivers custom blended GEM fuels to suit almost any engines need:
EcoFlex96™ offers high octane alternatives to regular gasoline.
Our gasoline and GEM fuels offer superior performance over similar traditional gasoline blends. Unlike other fuel options, there is no need to retrofit the vehicle for consumption of our fuel blends.
All of our fuels can be transported, stored and pumped like regular gasoline.
The CyberFuels lines of products also include our "Dynamo™" brands.
Dynamo™ Diesel Cetane Booster:
Independent lab certified to reduce Diesel Particulate Matter (DPM) by
Dynamo™ Gasoline Octane Booster:
Improves octane and increases the miles per gallon (mpg). Dynamo™ Gasoline Octane Booster allows consumers to purchase regular 87 octane gasoline and increase the power and performance of that fuel to equal that of superior high test 93 octane gasolines, by adding a bottle of our Dynamo™ Gasoline Octane Booster to their tank at fill up.
Visit www.cyberfuelsinc.com
Safe Harbor:
Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Act of 1995. When used in this press release, the words or phrases "will likely result," "expected to," "will continue," "anticipated," "estimate," "projected," "intends," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to, economic conditions, dependence on management, dilution to shareholders, lack of capital or the ability to obtain financing, changes in laws or regulations, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth, demand for products and services of the Company, newly developing technologies, its ability to compete, conflicts of interest related to related party transactions, regulatory matters, protection of technology, lack of industry standards, the effects of competition, and the ability of the Company to attract and sign storage customers. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release.
Contact:
Bill Robertson
Ph. No. 604 837 3835
FAQ
What is the recent acquisition by EncounterCare Solutions (ECSL)?
What are the plans for the acquired property by ECSL?
What is the expected storage capacity of the new facility by ECSL?
How much capital is needed for the project by ECSL?
What is the anticipated throughput capacity of the terminal by ECSL?
