e-biofuels triples sales
In Indiana, Imperial Petroleum announced that its wholly-owned subsidiary, e-biofuels, a Middletown biodiesel producer, sold 1.98 million gallons of biodiesel in October 2010 resulting in revenues of approximately $6.3 million for the month. First quarter revenues from biodiesel sales represent approximately $16.7 million on 5.2 million gallons sold.
“Sales in calendar 2009 averaged 7 million gallons and we are now on pace to maintain biodiesel sales at around an annual pace of 24 million gallons with revenues approaching $70 million per year. We’ve been able to use the increased cash flow to mitigate some of the past financial issues faced by e-biofuels and strengthen our financial position in the industry,” stated Jeffrey T. Wilson, President of Imperial.
Category: Fuels
