June 2nd 2023
Dear Shareholders,
I’m changing things around and starting off this Shareholder update with some great updates on the progress being done with our additives sales teams:
Our Additives Specialist, Jeff Porter, is currently in New York state installing our new additive-blending systems to a large fuel terminal there which has already purchased almost 1,000 gallons of our additives. These systems will simultaneously blend any of our 3 additives there (Dynamo All-In-One™ Cetane Booster for diesel, Dynamo All-In-One™ Cetane Booster for Cooking and Heating Oil, and our EcoFlex 96 premium GEM gasoline) to the right tanks and at the right dosages to simplify the blending and dispensing. Preliminary testing of our blending system has gone flawlessly, making it easier for the terminal owner to dispense fuels with our additives without any human time needed. “The simpler the better” and now we expect monthly orders for the foreseeable future to this large account.
We have a new order for a large trucking firm in the Midwest where our Dynamo All-In-One™ Cetane Booster for diesel will be tested with another new dispensing system for independent truckers and truckers that “long haul.” Since these truckers don’t get their fuel from the same station / terminal, we have aligned ourselves with a manufacturer that has built a smaller dosing system that is affixed to the cab of the truck and correctly meters our additives into their fuel tanks every time they fill up. With the reservoir sizes of Dynamo on the truck, the trucker can have our additive in his fuel for about 30,000 miles. Again, “the simpler the better” allowing long-haulers and independent truck owners across the country the opportunity to always have Dynamo All-In-One™ in his fuel, thus opening the door for CyberFuels to re-engage with retailers across the country to stock up with Dynamo All-In-One™. We are excited about the upcoming tests, which like other tests, will take a few months to complete. We are also excited to continue to build a relationship with this new business partner for their individual truck adding systems.
Our Dynamo All-In-One™ Marine additive tests are underway with a tugboat fleet, and we expect results by the end of next month.
Our first new client in the fracking industry will begin testing our Dynamo All-In-One™ Cetane Booster mid-summer.
We continue to work with major railroad companies on mutually agreeable testing parameters and schedules.
Many thanks to a couple of our shareholders who have reached out to me and made introductions to CyberFuels of friends of theirs in the trucking, construction, mining, and fuel storage areas where our additives are being discussed.
Speaking of fuel storage, the closing on the purchase of the lands and waterway in Port Tampa has been delayed due to concerns regarding environmental issues on one track of the land. These issues have now been addressed. There is one additional issue regarding the repair to the damaged wharf which I’ve discussed previously. We believe that we have overcome this, and we are still moving forward with our Lender and the estate attorneys to get closed as soon as possible.
As always, I thank you for your continued support and look forward to making the announcement of the closing and other large additive contracts as soon as we can.
Sincerely,
John Lawrence
President / CyberFuels Inc.
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