InterCore Energy has acquired a 25% equity stake in Epec Biofuels Holdings for an undisclosed amount.
Epec executive chairman Steve Vanechanos said InterCore Energy’s investment is an important endorsement and next step towards validating Epec’s business plan and model.
"The willingness of leading supply chain participants to become strategic partners within our integration platform is the next important milestone. We look forward to announcing progress on that front shortly," Vanechanos added.
InterCore Energy CEO James F Groelinger said the company believes strongly that the country needs to move forward in creative ways to develop significant domestic energy resources, especially those that avoid negative societal and environmental impacts.
"The potential of sweet sorghum as an advanced biofuel feedstock is vast and largely untapped. We believe Epec is ideally positioned to capitalize on that potential," Groelinger added.
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By GlobalData"Combined with Epec’s extraordinarily experienced and talented management team, the opportunity to acquire a significant stake in Epec fit well as the initial investment in support of our strategic shift to the clean energy space."
InterCore Energy rebranded from Heartland Bridge Capital also gained two seats on the Epec Biofuels board.
Epec is developing and implementing an industry integration platform, Ethanol 2.0, to produce clean engine fuel using domestic biofuel such as sweet sorghum.
Ethanol 2.0 will use factory-built modular production facilities that can be installed close to the sugar-rich sweet sorghum.
InterCore is an owner, product developer, and investor in the area of clean energy.
