Clean Power Concepts to merge with Sao Paulo biodiesel company

By Clean Power Concepts Inc. | January 31, 2012

Clean Power Concepts Inc. and Integrated Biodiesel Industries Ltd. of Sao Paulo agreed to merge, pending approval of IBI shareholders and completion of due diligence. A Term Sheet was signed Sept. 22 and since then both parties have been working to determine a proposed integration strategy.

Clean Power Concepts is a Canadian agricultural commodity processing and alternative energy company engaged in oilseed crushing. Clean Power's "above-ground oil well" concept allows it to supply oil for food production and renewable fuels or nutraceutical supplements.

“We have been in discussion with IBI for essentially a couple of years,” said Michael Shenher, Chairman and CEO of Clean Power Concepts. “We saw the synergies early on, and I am very pleased we have enough common ground to explore integration. Our visions for the future of agricultural commodities is well matched and we are very interested in IBI's managed farming—seed to table or tank—approach to the industry. By combining forces, we are hoping to achieve economies of scale and levels of revenue that will make us more attractive to the capital markets in order to raise the necessary financing to carry out our ambitious growth plans in the agricultural commodities sector. "

IBI is a biodiesel company headquartered in Sao Paulo, Brazil, and develops plantations of Moringa oleifera as alternative source of vegetable oil as well as other low-hydric demand oilseed crops in semi-arid regions. It also holds worldwide rights to a low-cost tubular reactor technology for biodiesel refining. "The combination with Clean Power will result in a bigger and more integrated company as our businesses are complementary, said Marcelo Lopes, IBI's Chairman and CEO. “The synergies to be captured should create meaningful shareholder value.”

The merger will be completed within 90 days after shareholder approval and the resulting entity will continue to be listed on the OTCBB.

Clean Power Concepts produces filtered canola oil, canola feed meal, lubricants, chemicals and additives that are marketed under the registered Clean Power brand names.

 

 
 
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