EncounterCare Solutions Inc has announced 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.
After closing, Cyberfuels intends 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.
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. The company expects to begin permitting as soon as possible with construction to begin once those permits are obtained.
John Lawrence, president of Cyberfields, said: “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.”
Through partnerships, the company plans to develop 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.
The 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 programme 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’ programme 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.
The company’s 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.
The management team is committed to creating and operating the new CyberFuels facility as a world-class energy complex.
For more information visit www.cyberfuelsinc.com
