July 10, 2024 – GasTechno Energy & Fuels (USA) LLC (“GEF”), a world-leading developer and manufacturer of single-step Mini-GTL ® methane-to-methanol conversion plants used to produce low-carbon transportation fuels, is developing its flagship GasTechno Energy Center in Michigan with a target opening in Q4 2025. The GasTechno Energy Center will provide comprehensive low-cost clean fuel solutions to Class 8 truck fleets including selling low-carbon methanol, and other renewable fuels in a model similar to those examples like Love’s Truck Stops or Flying J Travel Centers.
The GasTechno Energy Center will be equipped with an on-site equipment Service Center that provides diesel truck conversions into methanol-only or hybrid methanol-to-electric powertrains. New Class 8 electric trucks cost about $350,000 while Class 8 hydrogen trucks approach $500,000. Depending on the truck and type of powertrain conversion, GasTechno’s service costs range from only $60,000 to $150,000. The powertrain conversion combined with fueling from low-cost GasTechno renewable methanol results in an estimated average payback in under 4-years for most truck fleet owners who want low carbon, low-cost transportation solutions.
GasTechno compared the Total Cost of Ownership (“TCO”) for its methanol-based owertrain to those of different technologies included in the White Paper published by the International Council for Clean ransportation, a Washington, DC-based think tank promoting battery electric vehicles (“BEV”). The comparison showed that GasTechno’s renewable methanol solution results in the lowest TCO based upon those criteria in the study. GasTechno results are available upon request for fleet owners interested in investing in a GasTechno Energy Center.
GasTechno Energy Centers will first be deployed in Michigan, the automobile anufacturing capital of the world, and then expand nationwide to supply low carbon fuels including biomethanol, bioethanol, hydrogen, renewable dimethyl ether (rDME), renewable dimethoxymethane (rDMM), and renewable power for EV fast charging stations. The Energy Centers can be tailored based on the fleet owner’s location and the specific needs of their Class 8 truck operations.
On July 3, 2024, GasTechno launched its first minimum $50,000 accredited investor crowdfunding style investment on Dealmaker. The $1.5 million Regulation D 506c convertible note offering (the “Offering”) will expire on September 30, 2024. The proceeds from the Offering will be used to prepare GEF for a planned $530 million debt-equity round subsequently with an NYSE listing in 2025.
Advisors
Winston & Strawn LLP and Anthony, Linder & Cacomanolis, PLLC serve as legal advisors to GEF.
Cautionary Statement Regarding Forward-Looking Statements.
This press release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, pertaining to GEF. Forward-looking statements relate to expectations, estimates, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. These forward-looking statements can be identified by the use of words such as “outlook,” “believe,” “think,” “expect,” “potential,” “continue,” “may,” “should,” “seek,” “approximately,” “predict,” “intend,” “will,” “plan,” “estimate,” “anticipate,” the negative version of these words, other comparable words or other statements that do not relate strictly to historical or factual matters. These forward-looking statements are based on GEF’s beliefs, assumptions and expectations, but these beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to GEF or within its control. Due to various risks and uncertainties, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. Past performance is no guarantee of future results. All forward-looking statements speak only as of the date of this press release. GEF does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date of this press release except as required by law.
Contact Information
Interested investors may find more information on the offering at https://gastechno.com/invest