Solicitation for Bids of the Property of Fulcrum Sierra BioFuels, LLC and Fulcrum BioEnergy, Inc.
Growth Specialists, Inc. (“DSI”) is advertising on the market the property of Fulcrum Sierra BioFuels, LLC and Fulcrum BioEnergy, Inc. (collectively, “Fulcrum” or the “Firm”).
Based in 2007, Fulcrum is a number one clear vitality firm within the renewable fuels sector, specializing in changing municipal stable waste (MSW) into low-carbon transportation fuels, together with sustainable aviation gasoline (“SAF”) and renewable diesel. Fulcrum’s proprietary course of combines gasification and Fischer-Tropsch applied sciences to transform natural landfill waste into liquid gasoline. This waste-to-fuel course of not solely offers low-carbon renewable gasoline but additionally reduces the environmental burden of waste administration. The Biorefinery carried out preliminary operations in late 2023 producing roughly 6,000 gallons. Following a upkeep outage to interchange, modify and restore sure tools, the plant is sort of prepared for start-up operations. Potential bidders may look to finish the outage work and function the ability as designed and constructed or look to retrofit with most popular know-how.
Property for Sale: The property owned by Fulcrum Sierra BioFuels, LLC (“Fulcrum BioFuels”) included within the stalking horse bid are as follows: a waste-to-fuels biorefinery with a design capability of 11 million gallons per 12 months of artificial crude oil, positioned on 19.4 acres, 20 miles east of Reno, NV. Moreover, a feedstock processing facility located on 10 acres, 10 miles east of Reno, NV. The bid additionally consists of rights to a NV Power high-voltage distribution settlement, offering 25 megawatts of complete energy supply, and rights to a water provide settlement for 155 acre-feet per 12 months. Different property embody tangible property (PP&E and stock), permits and licenses, causes of motion associated to Fulcrum Biofuels, and all related safety deposits.
Fulcrum BioEnergy, Inc. (“Fulcrum Father or mother”) is providing Expanded Property for bidding, which aren’t included within the stalking horse bid. These Expanded Property embrace 14 U.S. patents, 5 pending U.S. patent functions, 26 worldwide patents, and over 30 pending worldwide patent functions. Fulcrum Father or mother additionally has fairness in UK subsidiaries which can be at present within the design phases of improvement. These mental property property and fairness pursuits current a novel alternative for events to amass useful improvements and potential future income streams.
Bids may be made on the Fulcrum BioFuels property included within the stalking horse bid and/or the Expanded Property of Fulcrum Father or mother as properly.
Present Scenario: The Firm filed for Chapter 11 chapter on September 9, 2024. DSI has been retained as monetary advisor and funding banker for the proposed asset sale, topic to chapter courtroom approval.
Change, Ltd. (“Stalking Horse Bidder”) has bid $15,000,000 for the property of Fulcrum BioFuels, plus the idea of sure liabilities.
Sale Course of and Timeline:
Bid deadline: October 25, 2024, at 4:00pm (ET)
Public sale: November 1, 2024, at 10:00am (ET)
To submit a bid and take part within the public sale, a possible bidder should submit, amongst different issues, a Nondisclosure Settlement (“NDA”), a Letter of Intent, and proof of monetary capability to shut.
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Solicitation for Bids of the Property of Fulcrum Sierra BioFuels, LLC and Fulcrum BioEnergy, Inc. supply
