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DALLAS -- Evolution Fuels Inc. executed a letter of intent to enter into a lease agreement for the company's first fuel station under the brand "Evolution Fuels." The station will be located in the heart of the Dallas metropolis, near the upscale Park Cities neighborhood, the "uptown" area, and the Turtle Creek neighborhood, and will serve as the first "marquee" location for the company's planned rollout of its branded stations, the company reported.
The station will offer renewable fuel blends at the pump. The fuel dispensers, to be provided by Dresser Wayne, are designed to blend petroleum fuels with renewable fuels from the underground storage tanks within the dispenser as the fuel is delivered into the vehicle. The planned product offering includes E10 (10 percent ethanol blended with 90 percent petroleum gasoline), E20, E30, and E85, as well as B20 (20 percent biodiesel blended with 80 percent petroleum diesel).
Although the octane content actually increases going from E10 to E30, the company foresees the pricing to be $0.05 to $0.10 per gallon lower for the E20 product compared to E10, and likewise the same discount for the E30 product compared to E20.
The company also plans to offer specialty foods, beverages and other products in order to help create a recognizable brand as it rolls out more stations according to its business plan, the company reported.
Evolution Fuels expects to sign the definitive lease agreement pursuant to the non-binding letter of intent within the next 30 to 60 days.
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