1606 Corp. Signs Non-Binding LOI for Texas Biomass and Data Center Project
1606 Corp. has signed a non-binding LOI with Prime Tex Group to explore the sale of its 132-acre Texas biomass and data center project. Prime Tex, which is expanding its timber operations in East Texas with new sawmills, sees strategic value in utilizing local wood byproducts for its renewable energy goals.
New details from the Globe and Mail reveal Prime Tex is actively expanding its East Texas footprint by acquiring a sawmill in Kountze and planning a new facility in Kennard to process wood chips for biomass energy. The company is also pursuing additional mill acquisitions and investing in biochar and pellet production to support its renewable energy goals.
Source: The Globe and MailPer GN auto stocks/utilities: power plant, Prime Tex Group has detailed its strategic rationale for the deal, revealing it operates a sawmill in Kountze, Texas, and is building a second facility in Kennard that will generate wood chips suitable for biomass fuel. The company also noted its broader U.S. expansion plans include biochar production and pellet facilities, aligning with 1606 Corp's existing power infrastructure.
Source: Yahoo Finance1606 Corp. announced a non-binding Letter of Intent with Prime Tex Group to evaluate the sale of its 132-acre Texas biomass power and data center development. The move leverages Prime Tex's expanding timber operations in East Texas, though no definitive agreement has been reached.
Source: Newswire.com
