06 October 2011 22:02 [Source: ICIS news]
HOUSTON (ICIS)--China’s Empire Oil Refineries has signed a letter of intent to acquire US biodiesel producer Promethean Biofuels, the company said on Thursday.
The transaction should close in four to six weeks, according to Empire spokesman Frank Jiannazzo. Financial details were not disclosed.
Promethean uses oil and grease from restaurants and industrial-waste generators to produce biodiesel.
Doris de Guzman examines alternative processing, new technology, R&D and other sustainability initiatives in Green Chemicals
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