Alliance BioEnergy Plus acquires AMG Energy Group
Posted: 22nd July 2016 08:45
West Palm Beach, Florida, has secured 100 percent of the revenue stream from licensing and sales related to the cellulose to sugar (CTS) process that is derived in the geographical regions of North America (Canada, US and Mexico) as well as Africa, going forward. These regions represent the largest markets worldwide for processing of cellulose in its many forms of biofuels, fine chemicals, bioplastics, industrial sugars and other valuable products, at the present time and the near-term foreseeable future.
The company originally purchased 51 percent of AMG Energy Group
, West Palm Beach, Florida, in December 2013 and on July 21, 2016, Alliance completed the acquisition of the remaining 49 percent ownership of the AMG Energy Group, making it a wholly owned subsidiary of the company.
AMG owns 100 percent of EK Laboratories and the CTS Pilot Plant.
AMG owns 50 percent of Carbolosic, LLC, which holds the master license to the patented CTS process from the University of Central Florida.
AMG Energy Group exclusively owns the North American (including Canada, US and Mexico) and African territories.
The transaction occurred via a non-cash, 100 percent stock swap where the shareholders of AMG Energy Solutions Inc., a privately held company, received 8,700,000 restricted ALLM share(s) in exchange for 100 percent of the shares of Solutions. Additionally, Solutions merged with its wholly owned subsidiary AMG Renewables, LLC such that Renewables is the surviving entity.
In a separate but simultaneous transaction, the remaining minority owners of AMG Energy Group will receive a total of 1,300,000 restricted shares of ALLM in exchange for their ownership interest in AMG Energy Group while Renewables and AMG Energy Group merge leaving AMG Energy Group as the surviving wholly owned subsidiary.
With the transaction completed, Alliance’s organizational chart is concise and revenue flows through directly to the parent, Alliance BioEnergy Plus,Inc. These transactions have doubled ALLM's potential shareholder value.