HGP to Manage UCC Sale of Economic Interest In Commercial Biodiesel Company

By September 9, 2014Press Releases

HGP  to Manage UCC Telephonic Auction Sale

of an Economic Interest in Commercial Biodiesel Company

and Certain Related Intellectual Property

 

WATSONVILLE & SAN DIEGO, Calif.–(BUSINESS WIRE)–Heritage Global Partners (“HGP”), a global leader in asset advisory and auction services, today announced its upcoming telephonic auction of an approximate 10 percent economic interest in North Star Biofuels, LLC and related intellectual property owned by R Power Biofuels and Sauber, LLC, including a patent and certain trade secrets. The auction will take place on Tuesday, October 7 – between 10 am PT and noon PT.

“The winning bidder will also acquire certain intellectual property including a valuable patent and other trade secrets.”

Subject to certain limitations and restrictions, the winning bidder will acquire a 9.871% economic interest in a Watsonville, CA-based company that owns and operates a 15.3 million gallon per year biodiesel facility. The facility has multi-feedstock capability and an integrated supply of feedstock. The operations are automated and continuous flow, strategically located in the heart of California. The facility produces a high quality renewable fuel, in full compliance with all State and Federal regulations.

To be granted access to the Biodiesel Auction Virtual Data Room and to officially register for the October 7 sale, interested parties must first contact Nick Dove of Heritage Global Partners (see below phone and email address) to sign a required Non-Disclosure Agreement and be pre-approved as a qualified, participating bidder.

“We are very excited to manage this upcoming UCC telephonic auction, which presents a rare and unique opportunity for a successful bidder to purchase a nearly 10 percent economic interest stake in a leading, California-based commercial scale biodiesel company,” stated Nick Dove, Heritage Global Partners Director of Sales. “The winning bidder will also acquire certain intellectual property including a valuable patent and other trade secrets.”

Heritage Global Partners is a subsidiary of publicly traded Heritage Global Inc. (OTCQB: HGBL and CSE: HGP). For more information visit www.hgpauction.com.