Biodiesel and Ethanol Investing

Ethanol Producer Magazine reports that plans are in place for the Northeast Biofuels ethanol plant in Volney, New York, to become operational again during Q2 2010. The plant began production in August 2008, but ceased operations when the company filed for bankruptcy protection in January. Major oil refiner Sunoco Inc. purchased the plant for $8.5 million in April through a bankruptcy auction. According to Brian Roach, GM of Northeast Biofuels, Sunoco intends to invest about $20 million into the front end of the facility, including the fermentation area.