Universal Bioenergy to purchase Norcor Technologies
Based in California, US, clean energy company and biodiesel producer Universal Bioenergy has signed a letter of intent to acquire Norcor Technologies, headquartered in Charlotte, North Carolina.
Focused on the biodiesel, transport fuel and energy market, Norcor is reported to be in contact with the US military with regards to the possibility of a deal that would see $49 million (€37.5 million) worth of biodiesel supplied to a number of bases between the next one and three years. The firm is also looking into constructing a biodiesel fuel blending facility and a solar energy plant in the US.
‘We believe this will allow us to market biofuels, transportation fuels and energy services to Norcor’s customer base and marketing channels, the senior VP of Universal Bioenergy, Solomon Ali, said. ‘We’re building quickly on the foundation we started earlier this year, to push Universal Bioenergy toward our goal of creating solid revenues and profitability in 2010.’
The final terms and conditions of the contract are yet to be determined.
Focused on the biodiesel, transport fuel and energy market, Norcor is reported to be in contact with the US military with regards to the possibility of a deal that would see $49 million (€37.5 million) worth of biodiesel supplied to a number of bases between the next one and three years. The firm is also looking into constructing a biodiesel fuel blending facility and a solar energy plant in the US.
‘We believe this will allow us to market biofuels, transportation fuels and energy services to Norcor’s customer base and marketing channels, the senior VP of Universal Bioenergy, Solomon Ali, said. ‘We’re building quickly on the foundation we started earlier this year, to push Universal Bioenergy toward our goal of creating solid revenues and profitability in 2010.’
The final terms and conditions of the contract are yet to be determined.
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