Sunoco acquires 100 Mgy Northeast Biofuels plant for $8.5 million; 8.5 cents/gallon price the lowest yet recorded for ethanol capacity

In New York, Sunoco announced that its $8.5 million bid for the 100 Mgy Northeast Biofuels ethanol plant in Volney was approved by the U.S. Bankruptcy Court for the Northern District of New York. Sunoco distributes ethanol-blended fuel to 4,700 outlets, primarily in the Northeast and the Volney plant would produce around one quarter of the company’s fuel obligation.

The company said that its expertise in logistics would help make the Northeast plant more successful. The announced acquisition, at 8 cents per gallon of fuel capacity, is the lowest price yet seen for ethanol capacity.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

Sunoco closes purchase of 100 Mgy Northeast Biofuels corn ethanol plant for $8.5 million

In New York, Sunoco said it has completed purchase of the 100 Mgy corn ethanol plant in Volney from Northeast Biofuels. The purchase price was $8.5 million. The plant, which was built by Northeast for...

Sunoco eyes acquisition of 100 Mgy in added ethanol capacity

In Texas, Sunoco announced that it is considering new biofuels investments, following completion of its purchase of a 100 Mgy ethanol plant in Volney, NY. Sunoco bought the former Northeast Ethanol pl...

Northeast Biofuels aims to sell assets in April in bankruptcy move

In New York, Northeast Biofuels has requested bankruptcy court to approve its plan to sell its facility to pay down debt. The $200 million Northeast Biofuels plant never reached full operating capacit...

Ethanol Revival: Murphy purchases 110 Mgy corn ethanol plant in North Dakota for $92 million

[caption id="attachment_13984" align="alignright" width="300" caption="100 Mgy Hankinson corn ethanol plant"][/caption] In North Dakota, more signs of an ethanol revival appeared with the purchase ...

Northeast Biofuels says 100 Mgy ethanol plant on schedule to open early next year

In New York, Northeast Biofuels said that its Volney plant will launch early next year. The ethanol facility, on an old Miller Brewing plant site,  will be the largest in the Northeast with a produ...

Empire Green Biofuels to break ground on $185 million ethanol plant in New York

In New York, Empire Green Biofuels expects to break ground on plant construction this spring. The proposed ethanol and steam-producing plant would cost $185 million. Plant capacity and feedstocks were...