New York, NY (PRWEB) January 12, 2010
CTF Diesel, LLC today announced that it has executed a Membership Interest Purchase Agreement and associated documents with Hiroshi Development, LLC (HD, LLC). Under the agreement, HD, LLC will provide $35 million in equity financing to London based CTF Diesel, LLC. A New Jersey based Bridge Lender will contribute an additional $15 million to complete the equity component of the funding. HD, LLC will also act as Asset Manager for the project to construct a 75 million gallon per year biodiesel production facility in South Florida. In addition, HD, LLC will receive a significant carried interest and ownership in the plant, and be responsible for operations.
"HD, LLC is an ideal equity partner for CTF's third biodiesel production facility, adding additional financial strength to the venture," said Christophe Aldaine, President of CTF. "The competitive advantages of the project are many, including rail, highway, barge and deep vessel access, coupled with being ideally located in the Florida diesel fuel market."
Rodney Sparrow the Founder and Managing Director of REG Assets, Inc co-brokered the transaction with Liu Xiang who is an Account Executive with China Holdings, LLP.
CTF Diesel, LLC is an emerging Renewable Energy Company based in London, England that is currently investing in certain energy related businesses and clean energy.
(HD) – Hiroshi Development, LLC is a Japan based private commercial lender that provides short-term commercial loans secured by all types of commercial real estate. HD also focuses on investing in Renewable Power, Bio-Fuels and clean Technology. with over 50 years of combined experience, our partners have the knowledge to find creative solutions to the most problematic transactions. Since we launched in June 2005, we have funded over $200M in loans, consisting of over 150 transactions ranging in size from $450,000 to $35,000,000. With over 30 investment professionals, our team will respond immediately to your client’s needs. Whether you are in need of a time sensitive acquisition, construction funding or a bank workout, Hiroshi Development, LLC can help.