REG purchases Nova Biofuels' 60 MMgy biodiesel plant in Seneca, Ill.
October 14, 2009
BY Ron Kotrba
Posted October 21, 2009
A Renewable Energy Group Inc. limited liability corporation, REG Seneca LLC, purchased the 60-MMgy Nova Biofuels Seneca LLC biodiesel plant in Seneca, Ill., according to a Securities and Exchange Commission 8-K filing. Also purchased was Nova Biosource Technologies LLC. Both of the purchased entities were subsidiaries of Nova Biosource Fuels Inc.
The 8-K filing reads: "Pursuant to the Seneca Asset Purchase Agreement, the Seneca Purchaser (REG) agreed to acquire substantially all of the Seneca Sellers' assets, excluding certain specified assets, used in manufacturing ASTM D6751 quality biodiesel and related coproducts out of its production facilities in Seneca, Ill., including all patents and intellectual property rights to Nova's process technology, and to assume bank term debt of approximately $36,250,000."
REG had no comment on the Seneca plant purchase.
This news follows REG's purchase of three large biodiesel plants earlier this year: Western Iowa Energy, a 30 MGY facility in Wall Lake, Iowa; Central Iowa Energy, LLC, a 30 MGY facility Newton, Iowa; and Blackhawk Biofuels, LLC, a 45 MGY facility in Danville, Ill.
A Renewable Energy Group Inc. limited liability corporation, REG Seneca LLC, purchased the 60-MMgy Nova Biofuels Seneca LLC biodiesel plant in Seneca, Ill., according to a Securities and Exchange Commission 8-K filing. Also purchased was Nova Biosource Technologies LLC. Both of the purchased entities were subsidiaries of Nova Biosource Fuels Inc.
The 8-K filing reads: "Pursuant to the Seneca Asset Purchase Agreement, the Seneca Purchaser (REG) agreed to acquire substantially all of the Seneca Sellers' assets, excluding certain specified assets, used in manufacturing ASTM D6751 quality biodiesel and related coproducts out of its production facilities in Seneca, Ill., including all patents and intellectual property rights to Nova's process technology, and to assume bank term debt of approximately $36,250,000."
REG had no comment on the Seneca plant purchase.
This news follows REG's purchase of three large biodiesel plants earlier this year: Western Iowa Energy, a 30 MGY facility in Wall Lake, Iowa; Central Iowa Energy, LLC, a 30 MGY facility Newton, Iowa; and Blackhawk Biofuels, LLC, a 45 MGY facility in Danville, Ill.
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