Bioleum Corporation has acquired Hexas Biomass Inc. for approximately $6.5 million, enhancing its capabilities in producing renewable biofuels through advanced crop technologies.

Information on the Target

Bioleum Corporation has successfully acquired Hexas Biomass Inc., a prominent global entity focused on developing and deploying energy crops and biomaterials. The acquisition, valued at approximately $6.5 million, includes a significant transfer of Hexas' intellectual property and certain liabilities. The purchase consideration comprises a mix of equity, cash, and convertible debt structured to ensure a smooth integration of Hexas into Bioleum's broader operational framework.

Hexas has pioneered a collection of proprietary technologies for the growth and processing of energy crops, boasting annual yields that significantly surpass traditional forestry outputs. Specifically, their crops can yield 25 to 30 dry metric tons of biomass per acre, positioning them as a critical resource in the renewable energy sector and contributing positively to environmental sustainability.

Industry Overview in the Target’s Specific Country

The biomass industry in the United States is experiencing a substantial evolution, driven by a growing emphasis on sustainability and renewable energy sources. The U.S. Department