Earth Biofuels, Inc. (OTCBB:EBOF) has acquired a 51% interest in Vertex Processing, LP from Vertex Energy, LP.
Vertex Processing owns a facility strategically located near the Houston Ship Channel which was previously used for chemical processing and has since been converted for production of biodiesel fuel. The fuel produced by this facility will be sold under Earth Biofuels’ Willie Nelson brand name, BioWillie, to local markets and other areas. “Vertex Energy will be an excellent partner as we bring the BioWillie brand to Houston and the surrounding areas,” said Dennis McLaughlin, chairman and chief executive officer of Earth Biofuels, Inc. “This city is known for being a leader in providing energy solutions; therefore, we feel that this is the ideal location for one of our major biodiesel production facilities as we strive to help reduce our nation’s dependence on foreign oil through the production and distribution of biofuels.”
The Houston facility is Earth Biofuels’ first joint-venture biodiesel producing plant, which has a current capacity of 10 million gallons per year (MMgy). The joint venture expects to expand the facility to 20 MMgy over the next several months.
Earth Biofuels produces and distributes biodiesel fuel through the company’s network of wholesale and retail outlets. The fuel is sold under Willie Nelson’s brand name, “BioWillie.” The Company is focused on capitalizing on the growing demand for alternative and renewable fuels in the domestic market.
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