Eco-Energy to Purchase 100% of Production From Wilmington Biodiesel Plant
Posted on: Friday, 8 August 2008, 03:00 CDT
Renewable fuel producer International Coastal Biofuels has received a letter of intent from Eco-Energy for the purchase of 100% of its production from the proposed biodiesel plant in Wilmington, North Carolina.
In the letter of intent, Eco-Energy has stated that it will purchase 30 million gallons of biodiesel per year, for a length of three years from the first day of actual production. Additionally, Eco-Energy will be responsible for all logistics and transportation operations.
The plant will be centrally located in Wilmington and a second site is being negotiated in South Carolina, with further suitable sites across the US also being evaluated.
Jim Cooper, CEO of International Coastal Biofuels, said: "This relationship with Eco-Energy provides us with an additional certainty that our revenues are only limited by how fast we can get our production plant operational."
Source: Datamonitor
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