Bioleum Corporation announced the acquisition of Hexas Biomass Inc., a global leader in purpose grown energy crops and biomaterials.
The acquisition included all intellectual properties and certain liabilities for a purchase price of approximately $6.5 million.
The transaction involved a combination of cash payments, Bioleum common stock shares, and convertible debt.
Strategic Acquisition
Bioleum acquired Hexas Biomass Inc., expanding its portfolio in purpose grown crops and biomaterials.
High Yield Crops
Hexas developed purpose grown crops with yields exceeding traditional species, enhancing agricultural ecosystems.
Biofuel Production
The acquisition enables Bioleum to produce over 100 barrels of biofuel per acre per year, contributing to energy independence.
Regenerative Agriculture
The combination of Bioleum and Hexas technologies transforms marginal lands into sustainable biofuel production sites.
Company Vision
Bioleum and Hexas aim to accelerate commercialization of biofuels and other biobased applications globally.
- The acquisition allows Bioleum to enhance its refining platform with high yield crops, boosting biofuel production significantly.
- Hexas' technologies provide a low-cost feedstock model that benefits Bioleum's refining solutions and supply chain partners.
- The collaboration between Bioleum and Hexas has the potential to revolutionize renewable fuel projects by increasing feedstock availability and reducing risks.
The acquisition of Hexas Biomass Inc. marks a strategic move for Bioleum Corporation in expanding its capabilities in sustainable biofuel production and biobased applications.