Natura Energy to acquire stake in biomass distributor
By Global Newswire
June 12, 2012, Charlotte, NC - North Carolina Natural Energy, Inc. announced that it executed a letter of intent to acquire 40% ownership interest in Construction Management Institute to participate in and help manage distribution of biomass wood chip materials.
By Global Newswire
June 12, 2012, Charlotte, NC – North Carolina Natural Energy, Inc. announced that it executed a letter of intent to acquire 40%
ownership interest in Construction Management Institute ("CMI") of
Belfast, Maine to participate in and help manage distribution of biomass
wood chip materials.
Closing of the acquisition is subject to completion of final due
diligence with terms and conditions being agreed upon by both parties.
Of the $174,000,000 in wood biomass being sold initially under the three
year contract, CMI will receive revenue of $7,200,000 and NCNE will
receive revenue of $2,900,000 over three years or $984,000 per year.
In addition to CMI negotiations with forest owners in Maine and Florida,
according to the US Department of Agriculture, catastrophic events such
as hurricanes can damage tens of billions of board feet of timber in a
single storm that is left to rot or dumped in landfills. Direct
Combustion of the unprocessed mix of coarse chips of bark and wood fiber
called "Hog Fuel" is being utilized for wood biomass and even exported
Construction Management Institute is a US based corporation credited
with successful business development and facilitation of both US
domestic and internationally based commercial transactions including a
$1.5 BB reconstruction program for rebuilding Haiti, construction
management and general construction contracts in excess of $1 BB and
involved in multi-national aggregating and wholesale activity,
associated with Biomass materials harvested in the US and abroad, for
electricity and power generation clientele in the European market.
About North Carolina Natural Energy
North Carolina Natural Energy, Inc. is a development stage company in
the business of managing alternative renewable energy solutions
including biofuel, wind energy and innovative green products for
agriculture, and livestock.