CyberFuels plans ‘green energy campus’ after finalizing $33.5M land deal

Jan. 19, 2024
Purchase of 71 acres of land, waterways in Port Tampa, Florida clears way for liquid storage and blending terminal focused on e-fuels, SAF

CyberFuels, a subsidiary of Encountercare Solutions, recently completed the $33.5 million purchase of more than 71 acres of land and waterways in Port Tampa, Florida, where the company plans to develop a new fuel terminal with interstate access, existing CSX rail service, and barge and tanker access for large-volume deliveries.

CyberFuels said it intends to use the facility to develop a “Green Energy Campus,” a state-of-the-art liquid storage and blending terminal with a focus on e-fuels and sustainable aviation fuel (SAF). Buildout plans include blending and storage tanks for the company’s EcoFlex-branded fuels. Future plans also include a laboratory for testing and research, and a manufacturing facility to produce, store, and distribute “green” hydrogen.

“I am very excited about completing this very important milestone in the evolution of our company,” Ronald Mills, CyberFuels chairman and CEO, said in a news release. “This purchase positions the company to execute on its multi-level strategy of providing cleaner forms of energy.

“The first area of growth is expected to be through our growing Dynamo additives division, which, according to third-party independent testing, currently provides over 15% to 30% in fuel savings for gasoline and diesel combustion engines while also reducing emissions by up to 21%. Second, we expect to utilize a portion of the terminal property for the production of green hydrogen and green methanol, which reduces the level of fossil fuels consumed and is widely thought of as the next green energy initiative worldwide.

“Finally, we plan on providing storage support for other fuels needed to properly sustain our economy and support the needs of our intended customers.”

John Lawrence, CyberFuels president, said he expects to begin the permitting process “as quickly as possible,” with the construction phase to commence thereafter. With the transaction closing, CyberFuels will continue its focus on securing “take-or-pay,” third-party storage contracts that facilitate the storage of various liquids at the new facility.

“Subject to obtaining necessary government approvals and appropriate construction related financing, our plans are to have in place our first set of large-scale liquid storage contracts for the new terminal before the end of 2024, and we have a goal for Phase 1 of the overall buildout to include up to 400,000 barrels of capacity—or as many as eight storage tanks—by the end of the third year of ownership,” Lawrence said.

Ultimately, the storage tank portion of the new terminal could grow to approximately 1 million barrels of available liquid storage. CyberFuels envisions building large-volume liquid storage tanks supported by long-term contracts for cleaner fuels, including bio-advantaged and renewable fuels, SAF for airlines, as well as for e-fuels, gasoline, diesel, jet fuel, and marine bunker fuels for delivery to markets in Florida and the Southeastern U.S.

The project is expected to add up to 200 jobs to the local economy during the construction phase. Additionally, the new corporate office and terminal, assuming plans are met, will have a “significant” impact on the local economy, providing about 175 direct and indirect jobs with an expected average wage of $72,000, leaders said.

“We’re delighted CyberFuels has chosen Hillsborough County for this significant expansion of its operations and investment in our community,” said Angel Gonzalez, chair of the Tampa Bay Economic Development Council and regional president of SouthState Bank. “We’re proud to work with a company that is researching, testing, and developing new green technology for customers across the state.”