Global Clean Energy Holdings (GCEH) just unveiled an announcement.
Bakersfield Renewable Fuels, LLC, a subsidiary of Global Clean Energy Holdings, has engaged Entara LLC for management services at its Bakersfield Facility under a three-year Management Services Agreement, which will auto-renew unless canceled. Entara will offer comprehensive management advice, with BKRF paying an annual fee and potential performance bonuses. Additionally, BKRF has amended its Senior Credit Agreement and Executive Short Term Incentive Plan, aligning executive bonuses with operational milestones and converting $7 million of deferred fees into loans, with further payments contingent on the Facility’s financial performance.
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