PALM BEACH GARDENS, Fla. - CyberFuels, Inc., a subsidiary of Encountercare Solutions, Inc. (OTC-BB: ECSL), has finalized the acquisition of more than 71 acres of land and waterways in Port Tampa, Florida, for a total of $33.5 million. The transaction, which includes 10 parcels of land and certain business assets, is set to pave the way for the development of a Green Energy Campus.
The new facility will prioritize the creation of a liquid storage and blending terminal, focusing on e-fuels and sustainable airline fuel (SAF). Additionally, the company has plans to construct a laboratory for further testing and research, along with a manufacturing plant dedicated to producing and distributing Green Hydrogen.
Ronald Mills, Chairman and CEO of CyberFuels, expressed enthusiasm over this strategic move, which he believes will bolster the company's commitment to cleaner energy. He highlighted the potential growth of their Dynamo™ additives division, which is claimed to offer significant fuel savings and emission reductions based on independent testing.
John Lawrence, President of CyberFuels, indicated that the permitting process for the construction of the new terminal is to begin shortly, with the aim of securing large-scale liquid storage contracts before the end of 2024. The initial phase of the buildout is expected to feature up to 400,000 barrels of storage capacity.
The company's vision for the terminal includes the capacity to store approximately 1,000,000 barrels of liquid, catering to the demand for cleaner fuels such as Bio-advantaged and renewable fuels, SAF, and traditional fuels like gasoline and diesel.
CyberFuels has engaged Jon Currier, President of Currier & Company, to conduct the initial technical evaluation for the terminal's development. The project is anticipated to create 150-200 new jobs during the construction phase and, upon completion, approximately 175 new jobs with an average wage of $72,000.
The initiative has received positive remarks from local economic leaders, with Angel Gonzalez, chair of the Tampa Bay Economic Development Council, acknowledging the investment in green technology and the anticipated economic impact on Hillsborough County.
This news report is based on a press release statement.
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