BioCentric Energy, AutoMax Group Holdings merge
Web exclusive posted Sept. 5, 2008 at 1:31 p.m. CST
California-based BioCentric Energy Inc. announced Sept. 2 that it has agreed on the terms and conditions of a Memorandum of Understanding to merge with AutoMax Group Holdings Inc. When the merger occurs the company's name is expected to become BioCentric Energy Holdings.
BioCentric Energy Holdings is currently developing a biomass project though it's subsidiary, BioCentric Energy Microwave LLC. The project involves developing a solution that utilizes a proven technologically advanced microwave solution to produce energy from waste products. According to Dennis Fisher, BioCentric Energy's president and chief executive officer, the company has identified two waste products with a high oil yield. Although Fisher said he can't name the products due to confidentiality concerns, he said the products are generally considered worthless waste.
Fisher said one product is organic and can yield 65,000 gallons of oil per day. The other product contains oil and has components that can be used to make syngas. BioCentric Energy has already secured the property and technology needed to manufacture the products, and is negotiating ten-year feedstock contracts for both products. "Once that comes to fruition, the actual machinery itself is sitting and ready to go," Fisher said.
The project is designed to create electricity and oil, which can be used to produce biodiesel. Fisher said the oil produced from the products falls between soybean oil and rapeseed oil in quality, and doesn't come from a food product. The facility will be located in near Houston, Texas, and is expected to begin producing in May or June 2009.
California-based BioCentric Energy Inc. announced Sept. 2 that it has agreed on the terms and conditions of a Memorandum of Understanding to merge with AutoMax Group Holdings Inc. When the merger occurs the company's name is expected to become BioCentric Energy Holdings.
BioCentric Energy Holdings is currently developing a biomass project though it's subsidiary, BioCentric Energy Microwave LLC. The project involves developing a solution that utilizes a proven technologically advanced microwave solution to produce energy from waste products. According to Dennis Fisher, BioCentric Energy's president and chief executive officer, the company has identified two waste products with a high oil yield. Although Fisher said he can't name the products due to confidentiality concerns, he said the products are generally considered worthless waste.
Fisher said one product is organic and can yield 65,000 gallons of oil per day. The other product contains oil and has components that can be used to make syngas. BioCentric Energy has already secured the property and technology needed to manufacture the products, and is negotiating ten-year feedstock contracts for both products. "Once that comes to fruition, the actual machinery itself is sitting and ready to go," Fisher said.
The project is designed to create electricity and oil, which can be used to produce biodiesel. Fisher said the oil produced from the products falls between soybean oil and rapeseed oil in quality, and doesn't come from a food product. The facility will be located in near Houston, Texas, and is expected to begin producing in May or June 2009.
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