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.

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