In California, Global Clean Energy Holdings announced that it has acquired Sustainable Oils, a leader in Camelina genetics and production. The acquisition includes 100% ownership interest of Sustainable Oils and the ownership of the key intellectual property and operational assets. Camelina is the only non-food based crop approved by the EPA as an advanced biofuel, which includes renewable jet fuels, for RIN generation.
The deal points and impact
Global Clean Energy Holdings acquired Sustainable Oils, LLC and the related assets from Targeted Growth, Inc., a Washington based crop biotechnology company focused on developing products with enhanced yield and improved quality for the agriculture and energy industries, and the other minority owner of Sustainable Oils for 40,000,000 shares of GCEH’s common stock, and a $1,300,000 secured promissory note. GCEH acquired Sustainable Oils subject to certain operating liabilities accrued in Sustainable Oils prior operations.
Tags: non-food based, jet fuel, biofuels, Renewable Fuels Standard, biomass-based diesel, cellulosic biofuel, proteins, fibers, resins, adhesives, coatings, rapeseed, sunflowers
Source: BiofuelsDigest, 2013-03-14.