In California, Promethean Biofuels and the US Energy Initiatives Corporation (USEI) have signed a biodiesel production agreement to expand Promethean’s current production to its 2.1 to 3 mgy capacity by next month. The plant, which has been in operation below name plate capacity for the last six years, is expected to bring in $6 million in revenues annually. The agreement, which extends over the next year, will divide those revenues among the two companies. This is USEI’s first expansion into the fuel production arena, but the company plans on developing many more similar relationships before the end of 2013.
More on the story.
Category: Producer News