Gulf Akash JV enter into exclusive supply agreement with Targray to offer biodiesel out of the Buckeye Terminal in Hartford, Illinois

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Through their existing Joint Venture, Gulf Hydrocarbon Partners, Ltd (GHP) and Akash Energy Inc. have collaborated with Targray Industries to offer biodiesel out of the Buckeye Terminal in Hartford.

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“The Gulf Akash JV offers us access to the downstream markets that until now we have not actively participated in. This provides us with stronger returns on our investment as well as more ratable sales” said Andrew Richardson, President of Targray Intl.

Through their existing Joint Venture, Gulf Hydrocarbon Partners, Ltd (GHP) and Akash Energy Inc. have collaborated with Targray Industries to offer biodiesel out of the Buckeye Terminal in Hartford, Illinois. The terminal is located at Buckeye Terminal, 220 East Hawthorne St. Hartford, IL 62048 and supports 24/7 loading.

Gulf Hydrocarbon Partners, Ltd., has offered biodiesel out of this location since 2010, but shut down operations at the end of 2012 due to tough economic conditions in the biodiesel market. “The blend economics inverted at the end of 2012, providing little incentive for our customers to integrate biodiesel in their distribution streams.” said Jess Hewitt, President of Gulf Hydrocarbon, Inc. “With the reinstatement of the tax credit, blend margins have improved dramatically, and we now feel there is a viable opportunity to offer biodiesel for blending” said Hewitt. We offer biodiesel with and without RINs therefore a customer can choose to take their biodiesel with or without the Renewable Fuel Standard (RFS) credits.

“The biodiesel tanks at Hartford are heated and insulated and the loading system is automatic allowing buyers to self-load and splash biodiesel over diesel fuel. Illinois offers a tax exemption for blends B11 and higher and Gulf offers biodiesel at a far better price than pre-blended fuel available in the same area.” said Jess Hewitt of Gulf Hydrocarbon. Justin Heller, President of Akash Energy agreed saying, “What we are offering the customer is flexibility to take biodiesel neat or in any blend of diesel fuel whether that is B11, B20 or higher. We can customize the supply contract to meet the customer’s needs. By offering the flexibility of providing fuel with or without RINs, we simplify the process of integrating biodiesel for non-obligated parties. Customers who choose to take RINs can use the gallons towards their RFS obligation while improving margins on wet gallons.”

Targray Industries will be the exclusive supplier of biodiesel to the Gulf Hydrocarbon-Akash joint venture at Hartford, Illinois. Targray, based out of Montreal, is a global trading and distribution company serving high-tech manufacturing and energy markets for over 23 years. Targray’s biodiesel trading operations provides access to multiple strategic supply sources in the region. Targray will leverage their supply to maintain an inventory position in the tank. “The Gulf Akash JV offers us access to the downstream markets that until now we have not actively participated in. This provides us with stronger returns on our investment as well as more ratable sales” said Andrew Richardson, President of Targray International. “Working with Targray, we are able to create an efficient link from producer to end users. This translates into better blend margins for our customers, thereby increasing sales. It’s a win-win across the board.” Heller said.

About Targray Industries, Inc.

Founded in 1989, Targray is a global trading and distribution company operating in the Optical Media, Solar, Battery, and Biofuels markets. Targray has offices worldwide and sales in over 50 countries. In the Biofuels space Targray markets biodiesel, co-products, feedstock and operates a fleet of railcars. Targray is licensed for Biodiesel sales in several US States and Canadian Provinces and is fully registered with the EPA. Targray offers a range of biofuels and feedstock including: biodiesel, renewable diesel, ethanol, corn oil, yellow grease, glycerin and more. For more information about Targray, contact the company at (514) 695-8095, email: info(at)targray(dot)com, or visit the company website at http://www.targray.com.

About Gulf Hydrocarbon, Inc.

Established in 1997, Gulf Hydrocarbon, Inc. is the premier provider of biodiesel to the petroleum industry. Offering competitively-priced biodiesel for large end-users and petroleum companies, Gulf Hydrocarbon also offers marketing strategies to producers that wish to contract for high volume off-take agreements and risk management of biodiesel or biodiesel feedstocks. Gulf Hydrocarbon pursues biodiesel project development and financing through its Renewable Fuel Research Associates (RFRA) division.

About Akash Energy, Inc.

Akash Energy, Inc. was founded in 2012 by Justin Heller, formerly of Suma Energy, Inc., where he established one of the first biodiesel truck racks in the San Francisco Bay area as well as a truck rack in Elizabeth, New Jersey. After leaving Suma in October, 2009 to pursue other opportunities in the renewable energy sector, he recently set out to reenter the distribution arena. While developing a business plan Heller solicited the help of Anish Mashettiwar, a childhood friend who was operating an independent legal practice at the time. Mashettiwar agreed to join Heller in his efforts, and together they founded Akash Energy, Inc., with the purpose of developing an efficient distribution infrastructure to provide reliable and consistent biodiesel supply to the end-user market. For More Information Call: 281-496-5100

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Danielle Richardson
Targray Technology Intl. Inc.
514-695-8095
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Dania Mandzy
Targray Technology Intl. Inc.
514-695-8095
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