London-Based PTFPlusOne, Ltd., Inks Deal to Acquire Masada Resource Group, LLC
On March 1, 2017, PTFPlusOne, Ltd. (www.ptfplus.com), announced an agreement in principle to acquire Masada Resource Group, LLC (www.masada.com). PTF is a London-based petrochemical company. Masada is a Birmingham, Alabama-based competitive and responsible provider of proven and environmentally friendly waste-to-energy technologies. I am the chief executive officer of Masada.
Masada's core technology, the CES OxyNol process, converts ordinary household garbage into fuel-grade ethanol using acid hydrolysis. It also produces other commercial products, including gypsum, lignin, industrial carbon dioxide, and ash residue. Masada's wholly owned technology affiliate, Controlled Environmental Systems Corporation, Inc., holds nine domestic and sixty international patents for the CES OxyNol process.
PTF's acquisition of Masada is based upon three primary factors: (a) the business synergies between PTF and Masada, (b) PTF's unique opportunity to acquire Masada's innovative waste-to-energy technologies, and (c) the demonstrated legal and superior marketing expertise of Masada. PTF believes that the addition of Masada's intellectual properties and market development activities will substantially expand PTF's international market footprint and economic value.
Masada affiliates have worked with over 300 local government entities since 1978 to develop extensive business development and infrastructure operations in the environmental services, cable television, telecommunications, and electronic security industries. Today, Masada is a proven leader in the waste-to-fuel industry.
In 2015, Masada was a recipient of the Governor's Trade Excellence Award, which recognizes Alabama-based companies for excellence in exporting goods or services. Masada's work in Sub-Saharan Africa was featured in the July 2014 edition of the London-based International Finance and Legal Review, a prestigious subscription publication for European and African business leaders.
PTF's existing business segments produce a pre-curser of caprolactam through the recycling of plastics and SECA standard bunker fuels for the shipping industry. PTF's acquisition of Masada will advance and protect the company's sustained competitive advantage in the oil, chemical and hydrocarbon industries.
PTF will acquire 100% of Masada in a transaction that involves a cash payment to Masada and an award of equity in PTF to certain Masada stakeholders who will continue working in the business. I will join PTF's senior management team and board of directors upon completion of the acquisition transaction.
PTF's acquisition of Masada is subject to shareholder and board approval, as well as regulatory consent in the United States and United Kingdom.
I am very proud of Masada's core team of world-class vendors, its strong international partners, and its dedicated and talented professionals who work tirelessly to strengthen Masada's worldwide brand. Even in the face of false allegations by those who have opposed Masada's growth for malicious reasons, our executive team and partners have remained strong, focused, and committed.
Masada's voyage to this destination has been long and hard. During our journey, Masada (a) survived the 2005 death of my close personal friend and Masada co-founder Daryl E. Harms; (b) successfully navigated the Great Recession of 2008; (c) successfully "passed" an unprecedented number of third-party compliance and due diligence reviews; (d) developed and grew a small Birmingham headquartered waste-to-energy technology company into an international industry leader, and accomplished this achievement in record time; and (e) grew and maintained Masada's sustained competitive advantage in the global marketplace. In this regard, Masada has no "peer".
It has been a tremendous honor to serve Masada, its shareholders, stakeholders, senior management team, strategic partners, key external vendors, and supporters during this magnificent voyage. Their display of loyalty and support in the face of adversity has been heartwarming and energizing.
Finally, Masada is the only African-American-led waste-to-energy technology company that has consistently competed for and won major contract opportunities in the tough international alternative energy marketplace. I sincerely thank my deceased parents, Levi and Lillian Watkins, and all of the visionary and inspiring teachers in our small all-black K-12 school on the campus of Alabama State University in Montgomery, Alabama who encouraged us to: (a) explore a world beyond the borders of the United States, (b) not allow our enemies to define who we are, (c) stand up to those who oppose our growth, and (d) believe in the triumph of the human spirit. I also thank Dr. Martin Luther King, Jr., Rev. Ralph David Abernathy, and Rosa Parks for teaching me how to "love" my enemies.
Donald V Watkins
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