Valero takes over VeraSun investment in advanced biofuels developer Qteros

In Massachusetts, Valero has assumed the investment in advanced biofuels developer Qteros originally owned by bankrupt ethanol producer VeraSun Energy. Qteros, which raise $25 million last year in its most recent capital raise, has also received $2 million in federal grants towards the opening of a pilot processing plant this summer in Springfield. Valero acquired seven ethanol plants from VeraSun in a bankruptcy auction earlier this spring for $477 million, with a combined capacity of 780 Mgy.

Qteros was ranked #15 in Biofuels Digest “50 Hottest Companies for 2008-09″

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