Xfuels Inc signs supply and offtake agreement for biodiesel plant.
Xfuels Inc. (OTC PINK: XFLS) is pleased to report that the company has signed an oilseed supply and biodiesel off-take agreement with an Indigenous-owned company Infinity Petroleum Energy Resources Inc.
The company will purchase from Infinity Energy oilseed for its biodiesel production as wells as Infinity Energy will market Xfuels biodiesel product.
Mr. Michael McLaren states,
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Infinity Energy had previously negotiated long- term oilseed contracts for its purposes as well as several long-term off-take agreements.
He further said, “A contract between the two companies only made sense given the relationship between Infinity and Xfuels.” He then stated, “Mr. Charles Iggulden, CEO of Infinity Energy, also acts as and Xfuels President and COO.”
Mr. Charles Iggulden states:
Part of the attraction for myself to join the Xfuels team was the possibility of Infinity working closely with Xfuels to help build both companies through mutual interests and goals.
He further stated, “Infinity Energy is a 100% Indigenous owned and operated company with a completely separate shareholder base and management team and is looking forward to working closely with Xfuels and their biodiesel project.”
About Infinity Petroleum Energy Resources Inc.
Infinity Petroleum Energy Resources Inc. (Infinity Energy) is a privately owned Canadian Aboriginal GREENX2™ Renewable Energy Company. Our Core Values include the co-creation of economic growth and prosperity and a commitment to a vibrant environment and Social License. Our Mission Statement aligns with the Three Pillars of the Alberta economy: Energy, Agriculture and Tourism.
We bring significant expertise and experience in engineering, manufacturing, construction, research and development, successfully combining and empowering community engagement through education, employment, and sport with economic growth.
Infinity Energy has agreements in place for over five million tonnes of Canola supply per year. Plus, off-take contracts of biodiesel of 1million barrels per year of biodiesel and Biojet fuel.
Xfuels Inc. Signs Supply and Offtake Agreement for Biodiesel Plant, Calgary, Alberta, August 16, 2021
