Federated Co-operatives Limited (FCL) has introduced the acquisition of True North Renewable Fuel’s assets. The announcement follows FCL’s constructing a technique of enhancing the environmental impression of their amenities and the transportation fuels they produce.
Scott Banda, chief govt officer of FCL says they’re excited concerning the buy of True North’s assets as it’s one other essential step to a sustainable future.
“Our company is committed to implementing sustainable solutions that ensure our Co-op system remains competitive. Energy and transportation fuel sources are going to change, and this purchase demonstrates that we are positioning our Co-op to meet the challenges of the changes that lie ahead,” Banda explains.
After evaluation of the work True North accomplished with regard to biofuel manufacturing, FCL felt that the acquisition of True North’s present assets would complement the work FCL has already accomplished, and provides the corporate a strategic and aggressive benefit within the pursuit of sustainable options.
Douglas Cole, CEO of True North, can also be happy that FCL sees a promising future in biofuels and was prepared to buy the corporate’s assets.
“The idea of biofuel production is a concept I have been working on for four years, and it has truly become a passion project for me,” says Cole. “I am confident that FCL has the resources and operational knowledge to fully assess producing biofuel. In FCL, I believe we have found the right company to ensure the project comes to fruition. The concept is in good hands.”