Latest news with #Mabanaft
Miami Herald
08-05-2025
- Business
- Miami Herald
CyberFuels Announces That It Has Received a Non-Binding Indicative Offer From Mabanaft for a Joint Venture in CyberFuels' Planned 'Port Tampa Energy' Terminal
PALM BEACH GARDENS, FLORIDA / ACCESS Newswire / May 8, 2025 / CyberFuels Holding Company, Inc. (OTC PINK:CBRF) ("the Company") is pleased to announce that CyberFuels, Inc., a wholly-owned subsidiary of the Company, ("CyberFuels") has received a non-binding indicative offer from Mabanaft GmbH & Co. KG ('Mabanaft"), a global energy company, to potentially purchase a minority interest in a planned future joint venture between at least CyberFuels and Mabanaft or an affiliate company. As part of the minority interest, CyberFuel's "Port Tampa Energy" terminal could be jointly operated. The terminal will be located in Tampa, Florida. This indicative offer is contingent on certain Conditions Precedent, which CyberFuels believes it either currently meets or expects to meet and remains subject to obtaining all necessary regulatory and management approvals. The Company closed on the purchase of its newly founded "Port Tampa Energy" terminal on December 29, 2023. It announced on June 24, 2024 that it expected to enter into a joint venture agreement with a third party that could enhance the business opportunities of its new terminal. It is the Company's intention that Mabanaft, as a potential future partner in its project, will be able to use its worldwide network and energy expertise to support the Tampa regional market by providing fuels to the growing local economy of West Florida. Ronald Mills, Sr., CEO of the Company stated "that everyone at CyberFuels is very pleased that Mabanaft continues to express an ongoing interest in becoming CyberFuels' potential JV Partner in its 'Port Tampa Energy' terminal. Both of our companies share a similar vision of tomorrow's energy solutions that will create a more sustainable world and a brighter future for generations to come." "Our proposed minority interest in CyberFuels' 'Port Tampa Energy' terminal is a natural fit with our strategy to drive the energy transition through smart infrastructure and engineering excellence. The planned joint venture provides a strategic entry into Florida's vibrant economy, with 72 acres of well-located land with access to airports and the marine industry. Combined with our proven track record in low carbon investments in Europe and the US, we see this as a compelling opportunity to scale alternative fuel solutions and build a resilient, low carbon energy future," said Philipp Kroepels, Director New Energy, Mabanaft. About: CyberFuels Holding Company, Inc. Our vision is to be the leading provider of sustainable energy solutions that bridge the gap to a better future. We are committed to offering our customers green energy and sustainable eFuels that reduce their carbon footprint and promote environmental sustainability. We envision a future where our customers can rely on our products and services to power their homes, businesses, and communities without compromising on safety, reliability, or affordability. Our goal is to empower our customers to make responsible and informed choices that will benefit themselves, their communities, and the environment. Through innovation, collaboration, and a commitment to sustainability, we will create a brighter, cleaner, and more sustainable future for generations to come. ABOUT MABANAFT: The Mabanaft Group is a leading independent and integrated global energy company, providing its customers with tailored energy solutions for their transportation, heating, industrial and agricultural needs. The group is active in the import, distribution and marketing of petroleum products, chemicals and biofuels, and supports its customers' transition to cleaner fuels by providing alternative long-term solutions. Safe Harbor: Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Act of 1995. When used in this press release, the words or phrases "will likely result," "expected to," "will continue," "anticipated," "estimated," "projected," "intends," "plans," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to, economic conditions, dependence on management, dilution to shareholders, lack of capital, changes in laws or regulations, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth, demand for products and services of the Company, newly developing technologies, its ability to compete, conflicts of interest related to related party transactions, regulatory matters, protection of technology, lack of industry standards, the effects of competition, the ability of the Company to obtain additional financing, the financial implications of a joint venture structure, as well as its ability to attract and contract with potential storage customers. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release. SOURCE: CyberFuels Holding Company, Inc. press release
Yahoo
26-03-2025
- Business
- Yahoo
Vast Secures AUD 700,000 Grant from Australia-Singapore Initiative for Decarbonising Shipping to Progress World-First South Australia Solar Fuels Project
SA Solar Fuels will have the capacity to produce 7,500 tonnes per annum of sustainable fuels to meet the growing demand from maritime and aviation industries Funding will support industry-leading optimisation work as the project advances towards FEED following successful completion of pre-FEED SYDNEY, March 26, 2025 (GLOBE NEWSWIRE) -- HyFuel Solar Refinery Pty Ltd, a subsidiary of Vast Renewables Limited (Vast) (Nasdaq: VSTE), has been awarded AUD 700,000 through the Australia-Singapore Low Emissions Technologies (ASLET) initiative for maritime and port operations. The funding will progress the development of South Australia Solar Fuels (SA Solar Fuels), a world-first sustainable fuels project collaboration between Vast and global energy company Mabanaft. SA Solar Fuels, previously known as Solar Methanol 1, or SM1, is being developed to meet the rapidly growing demand for sustainable fuels by the maritime and aviation industries, which urgently need pathways to decarbonise fuel to meet net zero targets. The SA Solar Fuels demonstration plant will be capable of producing 7,500 tonnes per annum of green methanol, enough to fuel multiple car ferries for sustainable tourism or short-sea shipping for bulk freight in Australia. The groundbreaking technology demonstrated by SA Solar Fuels has the potential to produce hydrogen-derived sustainable fuels which can be used to replace fossil fuels in logistical operations, offering a low-carbon alternative to power ships, planes or other industrial applications. Preliminary front-end engineering and design (pre-FEED) for SA Solar Fuels has been completed by global engineering firms Fichtner and bse Methanol. ASLET's support will fund further project optimisation ahead of commencing front-end engineering and design (FEED), which will address technical, infrastructure, regulatory and commercial readiness elements of the project to ensure the successful adoption of green methanol in maritime operations. Aimed at helping the maritime and port operations industries to accelerate towards a net-zero emissions future while delivering bilateral economic benefits, ASLET is co-delivered by Australia's Commonwealth Scientific and Industrial Research Organisation (CSIRO) and the Maritime and Port Authority of Singapore, and is supported by the Governments of Australia and Singapore. 'We are delighted to receive this backing from ASLET, which recognises the potential of our project to play a significant role in decarbonising global fuel production. We believe SA Solar Fuels offers a scalable solution which can produce green fuels at lower cost than renewable-powered alternatives. We are looking forward to progressing towards FEED with our partners at Mabanaft, and to advancing our global pipeline of green fuels projects,' said Vast CEO Craig Wood. The ASLET funding is the latest boost of support for SA Solar Fuels, following the funding announced in January 2023 that Vast will receive up to AUD $19.48 million from the Australian Renewable Energy Agency (ARENA) and Mabanaft will receive up to EUR $12.4 million from Projektträger Jülich (PtJ) on behalf of the German government as part of the German-Australian Hydrogen Innovation and Technology Incubator (known as HyGATE). Located at the Port Augusta Green Energy Hub, SA Solar Fuels will be powered by Vast's next generation concentrated solar thermal power technology, which is expected to offer the lowest-cost energy source for green fuel production thanks to its ability to generate continuous heat and power. Calix, Vast's principal CO2 supply partner on the project, will supply unavoidable industrial CO2 emissions through its co-located world-first carbon capture and utilisation demonstration plant. The CO2 will be synthesised with green hydrogen to create sustainable fuels. About Vast Headquartered in Australia, Vast is a renewable energy company developing clean energy solutions that enable 24/7 green, low-cost heat and power to decarbonise the grid, green fuels production for the transport industry, and hard-to-abate industries. Vast's next generation CSP v3.0 approach utilises a proprietary, modular sodium loop to efficiently capture and convert the sun's energy. Visit for more information. Contacts For Investors: Caldwell Bailey ICR, Inc. VastIR@ For US media: Matt Dallas ICR, Inc. VastPR@ For Australian media: Zac LinkWilkinson Butler zachary@ Forward Looking StatementsThe information included herein and in any oral statements made in connection herewith include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein, regarding VS1, Vast's future financial performance, Vast's strategy, future operations, financial position, estimated revenues and losses, projected costs, capital expenditures, prospects, plans and objectives of management are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "project," "should," "will," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on Vast management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Vast disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Vast cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Vast. These risks include, but are not limited to, general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; Vast's ability to obtain financing on commercially acceptable terms or at all; Vast's ability to manage growth; Vast's ability to estimate project costs and to execute its business plan, including the completion of the Port Augusta project (including VS1), at all or in a timely manner; potential litigation, governmental or regulatory proceedings, investigations or inquiries involving Vast; changes in applicable laws or regulations and general economic and market conditions impacting project costs and/or demand for Vast's products and services. Additional risks are set forth in the section titled "Risk Factors" in the Annual Report on Form 20-F for the year ended June 30, 2024, dated September 9, 2024, as amended on November 7, 2024, and other documents filed, or to be filed with the SEC by Vast. Should one or more of the risks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Vast's expectations can be found in Vast's periodic filings with the SEC. Vast's SEC filings are available publicly on the SEC's website at in to access your portfolio
Reuters
06-03-2025
- Business
- Reuters
PetroChina in preliminary agreement with Germany's Mabanaft on expanding fuel sales to Europe
SINGAPORE, March 6 (Reuters) - PetroChina International's London unit signed a preliminary agreement with German energy company Mabanaft to expand sales of Chinese refined fuel products to Europe, the Chinese state oil and gas trader said on Thursday. The companies aimed to expand cooperation in the northwest European markets leveraging on PetroChina's fuel supplies and Mabanaft's end-user outlets, PetroChina International, or PCI, said on its official WeChat platform. The cooperation covers diesel, jet fuel, bio-aviation fuel and logistics. The companies already worked successfully on marketing aviation fuel in the United Kingdom, PetroChina said. PCI is the trading arm of China's largest oil and gas giant PetroChina ( opens new tab.
