EcoloCap Signs Non-Binding Letter of Intent with GFE Global for M-Fuel NPU's and Additive to Operate and Distribute in Central America
July 19, 2012 at 08:30 am
EcoloCap Solutions Inc. announced that it has signed an non-binding letter of intent with GFE Global Inc. to operate and distribute its diesel/water emulsion (M-Fuel) production NPUs as well as its proprietary additive. The products will be sold in certain Central American countries as a first step, and then extend to other areas based on established penetration targets. Each NPU-60, with a production capacity of 60 metric tons of M-Fuel/day (18,000 gallons), sells for $850,000 and each of these NPUs consume $4,500 a day of additive when in full production. The Non-Binding Letter of Intent is subject to further discussion and the execution of a definitive binding document. The company plans to sign the definitive agreements by July 25, 2012.