Alliance Bioenergy submits offer for INEOS New Planet Bioenergy

In Florida, Alliance BioEnergy Plus announced that it has submitted an offer to purchase a 145+ acre ethanol plant previously owned by INEOS New Planet Bioenergy in Vero Beach, FL.

If successful the Company will begin to retrofit the front end of the facility immediately with its patented CTS process and quickly be converting local yard waste into Cellulosic Ethanol through an option agreement with the County. If successful and, up and running at capacity, sometime in early 2018, the facility will produce 8 million gallons a year of Cellulosic Ethanol valued at $33 million a year with a pretax profit of more than $24 million a year.

The Company has begun the due diligence phase of the process and will assess the viability of the land, feedstock, permits, years of testing and activity at the site as well as local, state and federal environmental filings and regulations.