04 February 2010 22:08 [Source: ICIS news]
Valero said it closed on the purchase of a bankrupt ethanol plant from Renew Energy, which has capacity to produce 110m gal/year of the biofuel.
The company paid $72m (€52m) for the facility located in Jefferson, Wisconsin.
POET has 1.5bn gal/year of capacity, while ADM has 1.07bn gal/year, according to data from the Renewable Fuels Association (RFA).
($1 = €0.72)
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