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PetroSun BioFuels to acquire interest in biodiesel refinery |
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Written by Giles Clark, London
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Monday, 25 February 2008 |
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PetroSun BioFuels, Inc., has entered an agreement to buy a fifty percent interest in Fleet Biodiesel, Inc., an Alabama corporation. Fleet Biodiesel is currently completing the acquisition of an 82.5% interest in Eagle Biodiesel located in Bridgeport, Alabama.
The Eagle Biodiesel assets include a biodiesel refinery, port access to the Tennessee River, five-truck tanker fleet and a retail biodiesel station. The biodiesel refinery is currently producing and selling 60,000 gallons per month and is in the process of expanding its monthly production to four million two hundred thousand gallons.
PetroSun BioFuels will provide algal oil to the Bridgeport refinery for the increased feedstock requirements within the next twelve months.
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