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CyberFuels to build fuel blending and distribution terminal at the Port of Tampa

13 Jul 2021

EncounterCare Solutions, Inc. on Monday (12 July) announced its wholly owned subsidiary, CyberFuels, Inc., has completed a binding Purchase and Sale Agreement in connection with the purchase of 65+ acres of real estate at the Port of Tampa, inclusive of its on-going businesses there.

CyberFuels intends, after closing, to build its new environmentally friendly, state-of-the-art fuel blending and distribution terminal on this excellent site, previously used as a major oil company’s tank terminal. 

The businesses being purchased are responsible for maintaining logistical operations of incoming and outgoing tanker and barge traffic on the canal, maintaining Army Corp of Engineering canal maintenance and depth requirements of the canal, and charging for and collecting the costs and expenses to keep the canal running correctly and efficiently. 

CyberFuels has completed its due diligence and is moving to close the transaction as soon as possible, on or about August 3, 2021, subject to certain conditions to closing. CyberFuels expects to begin permitting as soon as possible with construction to begin once those permits are obtained.

President of CyberFuels, John Lawrence said, “We are very excited about achieving this Definitive Agreement to acquire these properties and the businesses necessary to develop our state-of-the-art terminal which will greatly expand the opportunities for CyberFuels throughout Florida, the US and abroad.”

Plans are to develop, through partnerships, portions of the property to accommodate CyberFuels corporate office as well as planned commercial office and storage space suited to regional companies conducting business at the terminal and in markets around Florida. 

Management is currently in negotiations with potential tenants to lease space in the terminal office facility as well as leasing some land that will not be needed for CyberFuels’ growth subject to closing this purchase.

CyberFuels plan is to complete its first set of large-scale liquid contracts for the new terminal and has a goal for phase one of the overall program to include more than 580,000 barrels (which is over 24 million gallons) of storage and ultimately grow to approximately 1,500,000 barrels (63+ million gallons) of storage. 

CyberFuels’ program is intended to include large-volume liquid storage built upon long-term contracts for cleaner fuels including Bio-advantaged and renewable fuels for gasoline, diesel, jet A, and marine bunker fuel for delivery to markets in Florida.

CyberFuels’ business plan is to generate approximately 750,000 barrels (31+ million gallons) per month of throughput in PHASE 1 and ultimately generate up to 2,900,000 barrels (over 120 million gallons) of throughput by PHASE 3 of Jet A, diesel fuel, gasoline, and biofuels including the CyberFuels branded products. 

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

 

 

Photo Credit: Scott Graham on Unsplash
Published: 13 July, 2021

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