BioJet International Ltd. announced that it has receivs $1.2B Billion funding facility from Equity Partners Fund SPC.
In Barbados, BioJet International Ltd. announced that it has received a US $1.2 Billion funding facility from Cayman based Equity Partners Fund SPC. The funding structure is a 3 year facility, further terms of the funding were not disclosed by press time.
BioJet is a supply chain integrator in renewable (bio) jet fuel and related co- products which include green diesel, etc. for the aviation and transportation sectors, and is an Alternative Fuels strategic partner of the International Air Transport Association. BioJet has an interest across the biofuel value chain — feedstock generation, technology, refining, logistics, sustainability certification, distribution, and eventual end use by the aviation sector user.
The funding agreement is designed to allow BioJet a significant source of capital for its supply chain capital projects program including feedstock and refining projects, as well as investment and strategic acquisitions. Chairman Mitch Hawkins said “This funding agreement with Equity Partners will form the cornerstone of BioJet capital projects and accretive EBIDTA positive acquisitions over the next five years. It enables a clear path to the expansion of our Camelina, Jatropha, and Algae feedstock projects as well as our Avia renewable jet refining projects in Latin America, Asia, and Europe. We will also be seeking acquisitions of listed companies which can add value geographically and strategically.”
Equity Partners Fund focuses on equity investments in public companies with market capitalizations under $1 billion, as well as private companies that will be listed on a securities exchange within six months of a funding commitment. Fund spokesperson Bruce Nelson says, “The fund is considered a private fund run by its principals, similar to a merchant bank that invests its own capital. Unlike hedge funds which have significant regulatory burdens, exposing their investors to higher risks, Equity Partners Fund is able to act quickly, and is more flexible when it comes to structuring an investment.
More background on the story from the Digest
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