Verde Bio broadens investment focus into alternative and renewable energy sectors
Verde Bio Holdings has announced a significant expansion of its business strategy by entering into an agreement to acquire two operational biodiesel plants.
Under this new strategy, Verde Bio aims to acquire two existing plants located in Fort Myers, Florida, and Wilson, North Carolina, which together will add an estimated $27 million (€24 million) in assets.
The Fort Myers plan can produce up to five million gallons per year of biodiesel made from soybeans while Fort Myers can produce up to five million gallons per year of biodiesel made from soybeans.
“While oil and gas remain Verde’s foundation and key part of the Company’s asset base and cashflow, Verde is expanding its focus on alternative energy investments and investments in present and future changes in the energy markets,” said Scott Cox, Founder and CEO.
The biodiesel ventures will operate as a wholly owned subsidiary of Verde Bio Holdings.
Verde expects that the plants will be in production and revenue producing within 60-90 days following the closing of the acquisitions.
Verde will make the needed capital investments for the facilities to ramp-up biodiesel fuel production.
The facilities will also generate revenue through the production and sale of biodiesel biproducts such as methanol and glycerin.
“Under the terms of the agreement, the first draw will be for $500,000, and Verde has the right to go back for more funding if other opportunities arise that fit our new business strategy,” Cox said.
Under this new strategy, Verde Bio aims to acquire two existing plants located in Fort Myers, Florida, and Wilson, North Carolina, which together will add an estimated $27 million (€24 million) in assets.
The Fort Myers plan can produce up to five million gallons per year of biodiesel made from soybeans while Fort Myers can produce up to five million gallons per year of biodiesel made from soybeans.
“While oil and gas remain Verde’s foundation and key part of the Company’s asset base and cashflow, Verde is expanding its focus on alternative energy investments and investments in present and future changes in the energy markets,” said Scott Cox, Founder and CEO.
The biodiesel ventures will operate as a wholly owned subsidiary of Verde Bio Holdings.
Verde expects that the plants will be in production and revenue producing within 60-90 days following the closing of the acquisitions.
Verde will make the needed capital investments for the facilities to ramp-up biodiesel fuel production.
The facilities will also generate revenue through the production and sale of biodiesel biproducts such as methanol and glycerin.
“Under the terms of the agreement, the first draw will be for $500,000, and Verde has the right to go back for more funding if other opportunities arise that fit our new business strategy,” Cox said.
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