Read this $XFUL Huge news from earlier... XFuels LLC Is Acquired by Converde Energy
XFuels Team, Joint Venture Projects and Branding Are Integrated
http://finance.yahoo.com/news/xfuels-llc-acqu...00178.html
PORTLAND, OR--(Marketwired - May 28, 2015) - Converde Energy USA, Inc. (OTC PINK: XFUL), today announced the completion of the purchase of XFuels, LLC, for 500,000 shares of the company's capital stock. This acquisition positions the combined company as a clear leader in carbon-neutral energy solutions, as well as providing water and food technologies specifically designed to improve life on our planet.
XFuels LLC brings with it an active 50/50 joint venture project for the sale of a $6M energy system producing 1MW of power with JV Partner, Metalwork & Stamping, S.A. de C.V., with facilities in Saltillo, Coahuila, and Monterrey, Nuevo Leon, Mexico. XFuels has collected a deposit totaling $460,000 which paid for engineering design, project planning, and associated project travel expenses. The balance of approximately $2,500,000 is due later this year.
The new combined company will adopt the XFuels brand identity (OTC PINK: XFUL) and be headquartered in Portland, Oregon. Since the joint relationship agreement came under discussion, the two companies have been preparing an assimilation plan for efficient integration of operations. The plan is now substantially complete, and the integration of the companies will begin in concert with this announcement and press release.
XFuels President and Chief Operating Officer, Isaac Benjamin Voss, who will lead the new company, said the combination of the two companies "strengthens our resolve and our ability to deliver on low cost best-in-class modular carbon-neutral energy systems, capable of converting nearly any carbon-based materials -- from coal to woody biomass -- into reliable low cost electricity and petrochemical-equivalent fuels." Mr. Voss has spent the last six years as a global brand advocate for clean energy companies, via his leadership role at Cleantech Venture Capital, successfully sourcing clients from his travels to India, China, and throughout Mexico. Mr. Voss was responsible for establishing a Latin American presence for the firm, overseeing the architectural design and completion of XFuels offices and energy facility footprint in Monterrey, Mexico, in 2014, which will help serve as a base for further expansion of combined company operations throughout Mexico and beyond in the coming years.
"As the world moves closer to not just acknowledging the importance of the health of our planet, but also taking action to ensure the energy we create today supports a clean planet tomorrow, XFuels is uniquely positioned with solutions for both," Voss commented. "Supported by a strong portfolio of research and development, with multiple highly credible third-party validated studies, our customers and partners will enjoy industry leading return on investment while practicing environmentally responsible solutions implementation."
"The completion of this acquisition is a significant step forward and enables us to execute on our long-term vision of bringing value to our clients and partners via the combined strength of our companies and teams," said Mike McLaren, CEO of Converde Energy USA, Inc. "With reliable and efficient low-cost energy systems priced below our competition, we have an attractive answer for small to mid-size industrial power and fuel users, who can reduce their energy costs and their carbon footprint with our modular XFuels systems."
XFuels Team, Joint Venture Projects and Branding Are Integrated
http://finance.yahoo.com/news/xfuels-llc-acqu...00178.html
PORTLAND, OR--(Marketwired - May 28, 2015) - Converde Energy USA, Inc. (OTC PINK: XFUL), today announced the completion of the purchase of XFuels, LLC, for 500,000 shares of the company's capital stock. This acquisition positions the combined company as a clear leader in carbon-neutral energy solutions, as well as providing water and food technologies specifically designed to improve life on our planet.
XFuels LLC brings with it an active 50/50 joint venture project for the sale of a $6M energy system producing 1MW of power with JV Partner, Metalwork & Stamping, S.A. de C.V., with facilities in Saltillo, Coahuila, and Monterrey, Nuevo Leon, Mexico. XFuels has collected a deposit totaling $460,000 which paid for engineering design, project planning, and associated project travel expenses. The balance of approximately $2,500,000 is due later this year.
The new combined company will adopt the XFuels brand identity (OTC PINK: XFUL) and be headquartered in Portland, Oregon. Since the joint relationship agreement came under discussion, the two companies have been preparing an assimilation plan for efficient integration of operations. The plan is now substantially complete, and the integration of the companies will begin in concert with this announcement and press release.
XFuels President and Chief Operating Officer, Isaac Benjamin Voss, who will lead the new company, said the combination of the two companies "strengthens our resolve and our ability to deliver on low cost best-in-class modular carbon-neutral energy systems, capable of converting nearly any carbon-based materials -- from coal to woody biomass -- into reliable low cost electricity and petrochemical-equivalent fuels." Mr. Voss has spent the last six years as a global brand advocate for clean energy companies, via his leadership role at Cleantech Venture Capital, successfully sourcing clients from his travels to India, China, and throughout Mexico. Mr. Voss was responsible for establishing a Latin American presence for the firm, overseeing the architectural design and completion of XFuels offices and energy facility footprint in Monterrey, Mexico, in 2014, which will help serve as a base for further expansion of combined company operations throughout Mexico and beyond in the coming years.
"As the world moves closer to not just acknowledging the importance of the health of our planet, but also taking action to ensure the energy we create today supports a clean planet tomorrow, XFuels is uniquely positioned with solutions for both," Voss commented. "Supported by a strong portfolio of research and development, with multiple highly credible third-party validated studies, our customers and partners will enjoy industry leading return on investment while practicing environmentally responsible solutions implementation."
"The completion of this acquisition is a significant step forward and enables us to execute on our long-term vision of bringing value to our clients and partners via the combined strength of our companies and teams," said Mike McLaren, CEO of Converde Energy USA, Inc. "With reliable and efficient low-cost energy systems priced below our competition, we have an attractive answer for small to mid-size industrial power and fuel users, who can reduce their energy costs and their carbon footprint with our modular XFuels systems."
