WALDEN, COLORADO, USA, July 30, 2019 /EINPresswire.com/ — Confluence Energy, LLC as debtor and debtor in possession in the Chapter 11 case (the “Bankruptcy Case”) pending in the United States Bankruptcy Court for the District of Colorado (the “Bankruptcy Court”), (“Confluence” or the “Company”) is a manufacturer of integrated, low carbon biomass and bio related products, generating revenue of $4 million in 2019. Since 2007, the Company has driven a process to source environmentally sustainable materials (beetle kill pine and waste materials) which are used to produce high quality, cost effective, green product lines for both the consumer retail and industrial markets.
Confluence manufactures wood pellets and related products for the residential and commercial/industrial heating markets, oil and gas markets, and has developed several eco-friendly product lines using a proprietary manufacturing processes for markets in the animal/pet, agricultural/horticultural and energy/environment sectors. Products include cat litter, animal bedding and soil amendments/additives.
The Company’s Walden, Colorado plant is located on a 100 acre site (15,000 square foot building). Current pellet capacity is estimated at 28,000 tons; however, many aspects of the plant were designed for much higher output levels. Management believes current capacity utilization is less than 50%. The plant began operations in 2008 and was constructed at an estimated construction cost in excess of $10 million.
The Company is seeking a buyer for all of the assets of its operating Walden, Colorado plant via a Section 363 bankruptcy sale. As more fully described in the amended Bid Procedures, the Bankruptcy Court has approved the following dates for the sale process:
August 1, 2019 – Submission of Letters of Intent to be Stalking Horse Bidder
August 6, 2019 – Selection of Stalking Horse Bidder
August 20, 2019 – Sign Asset Purchase Agreement with Stalking Horse Bidder
September 6, 2019 – Bid Deadline for Competing Bids
September 9, 2019 – Auction Held
September 13, 2019 – Sale Hearing Held
For additional information, parties with potential interest in participating in the sale process can contact
Bradley Woods & Co. Ltd.:
Daniel Zwelling (1)
Managing Director, Rivermill Advisors
Registered Representative, Bradley Woods & Co. Ltd.
4 Mechanic Street, Suite 211
Natick, MA 01760
(1) Daniel Zwelling conducts investment banking related business (including this engagement) through his association with Bradley Woods & Co. Ltd.
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Source: EIN Presswire