Catalytec launched a $750,000 brokered equity offering based on information filed with the SEC. The subscription to the equity offering hasn’t started yet. The offering is structured to remain open until March 2015 or when the fundraising cap is reached, whichever one comes first. The private placement’s expected net proceeds will amount to $675,000 excluding $75,000 paid in brokerage fees by the company. This is the first time the company is filling a security offering under a registration exemption with the SEC.
The company, formerly known as EcoTec Fuels, designed and markets a system that can convert multiple waste streams to profitable liquid fuel, using a carbon neutral, highly efficient, pollution-less, modular and economically viable process. According to the company, the fuel produced, using municipal solid and/or liquid waste as feedstock, is a straight fuel with equal or better power (BTU’s) produced, as compared to US highway #4 diesel fuel (ASTM D975). The resulting fuels can also be mixed with conventional or existing fuel supplies.
The company is headquartered in Reno NV. No revenues were reported by the company.
The executive team includes Harold Gentner, Jeffery Hershkowitz and L Christian Koch.
Amount offered: $750,000
Data as of: 03-21-2014