The United Kingdom's Green Fuels Ltd. has acquired the assets of Renewal Fuels Inc. and Renewal Biodiesel Inc., Milwaukee, Wis.,
to create Green Fuels America Inc. with headquarters in Sparks, Nev., where Renewal Fuels had manufactured its FuelMeister personal biodiesel processor.
The plant will continue to manufacture the FuelMeister as well as Green Fuel's slightly larger Fuelpod systems.
In mid-June, Green Fuels America rolled out Fuelpod2 in the U.S. market, a micro processor measuring 24 inches wide by 60 inches tall.
The new Fuelpod uses automation and air operated controls to improve the safety for home processors.
"With the latest advances, making fuel has entered the realm of dishwashing and clothes washing," the company said.
The system, which retails for just under $5,000 includes chemical testing equipment, scales and safety equipment, waterless purifier, oil pre-heater, fueling station, as well as a detailed manual and DVD that leads customers through the process.
Green Fuels America is a wholly owned subsidiary of the Stonehouse, England-based Green Fuels.
In addition to continuing to manufacture small scale biodiesel processors for distribution throughout the existing U.S. distributer network, the UK firm will increase the range of equipment available.
In the UK, the company supplies a 5,000 gallon-per-day continuous processor called the FuelMatic and a batch processor it calls the FuelMaker with production capacities from 240 to 1850 gallons of biodiesel per day.
James Hygate, co-founder of Green Fuels, said the company is looking forward to its expansion into the U.S. market.
"We believe that the U.S. has a terrific future for biodiesel production from yellow grease and tallow.
We think our business model in the UK should be even more profitable for our clients in this domestic environment.
We have great plans for Green Fuels America."
Green Fuels has a global presence with projects and joint ventures in Eastern Europe, Africa, India, Japan and China.
The company works with major diesel engine manufacturers and oil companies including Land Rover, Jaguar, Honda, Fuchs and Petrochem Carless to improve biodiesel performance.
"In Europe, most automobiles have diesel engines and most diesel engine companies warrant their engines for 30 percent to 100 percent biodiesel use, " Hygate said.
"We feel the U.S. market, after some false starts, is on its way to being a major market for biodiesel fuel."
A Reverse Merger allows a privately held company to go public by acquiring a controlling interest in, and merging with, a public operating or public shell company.
In a Reverse Merger process,
the private operating company shareholders exchange their shares of the private company for either new or existing shares of the public company
At the end of the transaction, the shareholders of the private operating company own a majority of the public company and the private operating company has become a wholly owned subsidiary of the public company.
(2) either no or nominal assets or assets consisting solely of any amount of cash and cash equivalents.
A Reverse Merger is the most common alternative to an initial public offering (IPO) or direct public offering (DPO) for a company seeking to go public.
In a Reverse Merger transaction, the private operating business must pay for the public shell company.
That payment may be in cash, equity or both.
The average cash value of a fully reporting public entity with no liabilities, no issues and which is otherwise “clean” is between $280,000 – $400,000.
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