Xfuels Signs Supply and Offtake Agreement for Biodiesel Plant

Source: www.gulfoilandgas.com 8/16/2021, Location: North America

Xfuels Inc. is pleased to report that the company has signed an oilseed supply and biodiesel off-take agreement with an Indigenous-owned company Infinity Petroleum Energy Resources Inc.

The company will purchase from Infinity Energy oilseed for its biodiesel production as wells as Infinity Energy will market Xfuels biodiesel product.

Mr. Michael McLaren states, "Infinity Energy had previously negotiated long- term oilseed contracts for its purposes as well as several long-term off-take agreements." He further said, "A contract between the two companies only made sense given the relationship between Infinity and Xfuels." He then stated, "Mr. Charles Iggulden, CEO of Infinity Energy, also acts as and Xfuels President and COO."

Mr. Charles Iggulden states, "Part of the attraction for myself to join the Xfuels team was the possibility of Infinity working closely with Xfuels to help build both companies through mutual interests and goals." He further stated, "Infinity Energy is a 100% Indigenous owned and operated company with a completely separate shareholder base and management team and is looking forward to working closely with Xfuels and their biodiesel project."


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