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Xfuels signs oilseed supply, biodiesel offtake agreement with Infinity Energy

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Calgary-based Xfuels has signed an oilseed (rapeseed) supply and biodiesel offtake agreement with an Indigenous-owned company, Infinity Petroleum Energy Resources (Infinity Energy).

Xfuels will purchase oilseed from Infinity Energy for its biodiesel production and Infinity Energy will market the biodiesel product. Xfuels, a fully integrated energy company, has a continued focus on carbon footprint reduction and cutting-edge technologies that benefit the environment and local communities, as well as adding value to its bottom line.

“Infinity Energy had previously negotiated long-term oilseed contracts for its purposes, as well as several long-term offtake agreements,” said Michael McLaren. “A contract between the two companies only made sense given the relationship between Infinity and Xfuels.”

Charles Iggulden, CEO of Infinity Energy, who is now also the president and chief operating officer of Xfuels, commented: “Part of the attraction for myself to join the Xfuels team was the possibility of Infinity working closely with Xfuels to help build both companies through mutual interests and goals.

“Infinity Energy is a 100% Indigenous-owned and operated company with a completely separate shareholder base and management team, and is looking forward to working closely with Xfuels and its biodiesel project.”