EQM raises $500K for Texas biodiesel project

In Ohio, EQM reports that they have raised an additional $500,000 in capital, closing their second and final closing of its previously announced $3.0 million private placement of 10% subordinated convertible notes.  EQM will use all of the net proceeds for the working capitol needs of its Cleburne, Texas biodiesel plant.

EQM previously reported in April they had successfully restarted its plant, and began producing biodiesel in commercial quantities for sale.  Jack Greber, CEO of EQM reported that production and sales have met their expectations.