W2 buys out Agri-Green, assumes corporate debt

May 21, 2012 |

In Canada, W2 Energy has completed its purchase of Agri-Green Biodiesel. After signing a Letter of Intent in May 2010 to purchase a 60% interest, the purchase has expanded to 100% in exchange for the assumption of Agri-Green’s corporate debt. Mike McLaren, President and CEO of W2 Energy, said of the purchase, “We consider this acquisition of Agri-Green a strategic opportunity for us, because of our ability to produce biodiesel less expensively by using our low-temperature plasma technology. We can use W2 Energy’s NT Plasmatron and MultiFuel gas-to-liquid reactor to make its own methanol, electricity and heat from waste sources, thereby reducing the costs of the methanol used in the biodiesel process.

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Category: Fuels

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