HGP to Manage UCC Telephonic Auction Sale of an Economic Interest in Commercial Biodiesel Company and Certain Related Intellectual Property
September 09, 2014 10:03 AM Eastern Daylight Time
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.
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.
Heritage Global Partners is a subsidiary of publicly traded Heritage Global Inc. (OTCQB: HGBL and CSE: HGP). For more information visit www.hgpauction.com.
“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, The winning bidder will also acquire certain intellectual property including a valuable patent and other trade secrets.” — Nick Dove, Heritage Global Partners Director of Sales.