US Valero completes acquisition of 10th ethanol plant

04 February 2010 22:08  [Source: ICIS news]

HOUSTON (ICIS news)--US refiner Valero said on Thursday it has completed the acquisition of its 10^th ethanol plant, solidifying its position as a new heavyweight in the US renewable fuels sector.

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.

The purchase increased Valero’s combined ethanol capacity to 1.1bn gal/year, making it one of the top three producers in the US along with POET and Archer Daniels Midland (ADM).

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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By: William Lemos
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