Media Coverage

U.S. Renewables Group Invests $10.6M in TexCom

Los Angeles Business

August 9, 2006 Wednesday 1:28 PM PST

U.S. Renewables Group LLC has agreed to invest $10.6 million in equity funding in Texcom Inc.'s Houston Biodiesel affiliate, the company said Wednesday.

TexCom will contribute an additional $3.5 million to complete the equity component of the funding and will act as asset manager for the project to construct a 35 million gallon per year biodiesel production facility at the LBC Terminal in Seabrook, Texas. TexCom will receive a significant carried interest and ownership in the plant and will be responsible for operations.

Lurgi PSI of Memphis, Tenn. will construct the Houston Biodiesel plant. LBC Houston will lease tankage and other terminal assets and provide other terminal services to Houston Biodiesel under a long-term lease agreement.

Houston, Texas-based TexCom (OTCBB: TEXC) invests in and develops energy related businesses.

Los Angeles-based U.S. Renewables Group is an investment company that acquires, developes and operates renewable stationary power generation and clean fuel assets.

Copyright 2006 American City Business Journals, Inc.

Media Contacts:

Steven Gottlieb
ZENO Group
Tel: (877) 526-0450
steven.gottlieb@zenogroup.com