ECSL ANNOUNCES THAT IT'S SUBSIDIARY, CYBERFUELS INC., HAS COMPLETED THE PURCHASE OF OVER 71 ACRES OF LAND AND WATERWAYS IN PORT TAMPA FLORIDA FOR ITS NEW GREEN ENERGY CAMPUS

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Jan 12, 2024, 08:55 ET

PALM BEACH GARDENS, Fla., Jan. 12, 2024 /PRNewswire/ - Encountercare Solutions, Inc. (OTC-BB: ECSL) is pleased to announce that through its wholly owned subsidiary, CyberFuels, Inc., it has closed on the purchase of over 71 acres of property including certain contractual rights and business assets pertaining to the operations of the Port Tampa canal in Florida. The combined purchase price for the land, waterways and related canal business was $33.5 million. The 10 parcels will provide CyberFuels and its customers with the opportunity to develop a new fuel terminal with excellent interstate access, existing CSX rail service, and access by barge or tanker for large volume deliveries and sales. CyberFuels intends to use this facility to develop a "Green Energy Campus," a state-of-the-art liquid storage and blending terminal with a focus placed on e-fuels and SAF (sustainable airline fuel). Buildout plans also include blending and storage tanks for CyberFuels "EcoFlex" branded fuels.

The picture above may, or may not, be indicative of the ultimate number of tanks or storage capacity achieved at the completion of this project. (CNW Group/EncounterCare Solutions Inc.)

Additionally, future plans include building a laboratory for more testing and research, as well as a manufacturing facility to produce, store, and distribute Green Hydrogen that can potentially be used for SAF as well as other new Green Energy initiatives.

"I am very excited about completing this very important milestone in the evolution of our Company," said Ronald Mills, Chairman and CEO of CyberFuels, Inc. He went on to say, "This purchase positions the Company to execute on its multi-level strategy of providing cleaner forms of energy. The first area of growth is expected to be through our growing Dynamo™ additives division, which, according to third party independent testing, currently provides over 15% to 30% in fuel savings for gasoline and diesel combustion engines while also reducing emissions by up to 21%. Second, we expect to utilize a portion of the terminal property for the production of Green Hydrogen and Green Methanol, which reduces the level of fossil fuels consumed and is widely thought of as the next green energy initiative worldwide. Finally, we plan on providing storage support for other fuels needed to properly sustain our economy and support the needs of our intended customers."

John Lawrence, President of CyberFuels, Inc. expects to begin the permitting process as quickly as possible, with the construction phase to commence as soon as possible thereafter. With the transaction closing, the Company will continue its focus on securing 'take or pay' third-party storage contracts which will facilitate other companies' ability to store various liquids at the new Port Tampa facility.

"Subject to obtaining necessary government approvals and appropriate construction related financing, our plans are to have in place our first set of large-scale liquid storage contracts for the new terminal before the end of 2024 and we have a goal for phase one of the overall buildout to include up to 400,000 barrels of capacity, or as many as eight storage tanks, by the end of the third year of ownership," said Mr. Lawrence.

Ultimately, the storage tank portion of the new terminal could grow to approximately 1,000,000 barrels of total available liquid storage. CyberFuels envisions building large-volume liquid storage tanks built upon long-term contracts for cleaner fuels including Bio-advantaged and renewable fuels, SAF for airlines, as well as for e-fuels, Gasoline, Diesel, Jet A, and Marine Bunker fuels for delivery to markets in Florida and the southeastern US.

CyberFuels has previously engaged Jon Currier, President of Currier & Company of Los Angeles, California and Tampa, Florida to perform the initial technical evaluation of the facilities for the liquid storage and blending portion of the terminal development. The project in Tampa is expected to add 150-200 new jobs to the local economy during the construction phase. Additionally, the new corporate office and terminal, assuming our plans are met, will have a significant impact on the local economy, providing approximately 175 new direct and indirect jobs with an expected average wage of $72,000.

The management team at CyberFuels is committed to creating and operating the new CyberFuels facility as a world-class Green Energy Campus; in other words, a complete campus incorporating environmentally responsible Green Energy initiatives for our community and partnering companies.

CyberFuels looks forward to collaborating with community partners to build out its vision to provide the sufficient energy needs to power the Green Energy campus. In addition, CyberFuels is collaborating with universities in Florida for talent pipeline and research capabilities.

"We're delighted CyberFuels has chosen Hillsborough County for this significant expansion of its operations and investment in our community," said Angel Gonzalez, chair of the Tampa Bay Economic Development Council and regional president of SouthState Bank. "We're proud to work with a company that is researching, testing and developing new green technology for customers across the state."

Safe Harbor:

Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Act of 1995. When used in this press release, the words or phrases "will likely result," "expected to," "will continue," "anticipated," "estimate," "projected," "intends," "plans," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to, economic conditions, dependence on management, dilution to shareholders, lack of capital changes in laws or regulations, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth, demand for products and services of the Company, newly developing technologies, its ability to compete, conflicts of interest related to related party transactions, regulatory matters, protection of technology, lack of industry standards, the effects of competition, the ability of the Company to obtain additional financing, the financial implications of a joint venture structure as well as its ability to attract and contract with potential storage customers. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release.

SOURCE EncounterCare Solutions Inc.