Encountercare Solutions subsidiary CyberFuels, Inc. it has closed on the purchase of over 71 acres of property including certain contractual rights and business assets pertaining to the operations of the Port Tampa canal in Florida, according to a news release.
The combined purchase price for the land, waterways and related canal business was $33.5m. The 10 parcels will provide CyberFuels and its customers with the opportunity to develop a new fuel terminal with interstate access, existing CSX rail service, and access by barge or tanker for large volume deliveries and sales.
CyberFuels intends to use this facility to develop a “Green Energy Campus,” a state-of-the-art liquid storage and blending terminal with a focus placed on e-fuels and SAF (sustainable airline fuel). Buildout plans also include blending and storage tanks for CyberFuels “EcoFlex” branded fuels.
Additionally, future plans include building a laboratory for more testing and research, as well as a manufacturing facility to produce, store, and distribute Green Hydrogen that can potentially be used for SAF as well as other new Green Energy initiatives.
“I am very excited about completing this very important milestone in the evolution of our Company,” said Ronald Mills, Chairman and CEO of CyberFuels, Inc. He went on to say, “This purchase positions the Company to execute on its multi-level strategy of providing cleaner forms of energy. The first area of growth is expected to be through our growing Dynamo™ additives division, which, according to third party independent testing, currently provides over 15% to 30% in fuel savings for gasoline and diesel combustion engines while also reducing emissions by up to 21%. Second, we expect to utilize a portion of the terminal property for the production of Green Hydrogen and Green Methanol, which reduces the level of fossil fuels consumed and is widely thought of as the next green energy initiative worldwide. Finally, we plan on providing storage support for other fuels needed to properly sustain our economy and support the needs of our intended customers.”
John Lawrence, President of CyberFuels, Inc. expects to begin the permitting process as quickly as possible, with the construction phase to commence as soon as possible thereafter. With the transaction closing, the Company will continue its focus on securing ‘take or pay’ third-party storage contracts which will facilitate other companies’ ability to store various liquids at the new Port Tampa facility.
“Subject to obtaining necessary government approvals and appropriate construction related financing, our plans are to have in place our first set of large-scale liquid storage contracts for the new terminal before the end of 2024 and we have a goal for phase one of the overall buildout to include up to 400,000 barrels of capacity, or as many as eight storage tanks, by the end of the third year of ownership,” said Mr. Lawrence.
Ultimately, the storage tank portion of the new terminal could grow to approximately 1,000,000 barrels of total available liquid storage. CyberFuels envisions building large-volume liquid storage tanks built upon long-term contracts for cleaner fuels including Bio-advantaged and renewable fuels, SAF for airlines, as well as for e-fuels, Gasoline, Diesel, Jet A, and Marine Bunker fuels for delivery to markets in Florida and the southeastern US.
