Clean Energy Pathways to supply Dorly Petroleum with biodiesel

By Bryan Sims | July 06, 2011

Dothan, Ala.-based renewable energy solutions firm Clean Energy Pathways Inc. signed a letter of intent to provide 40,000 barrels (about 1.68 million gallons) of ASTM-grade biodiesel to fuel distributor Dorly Petroleum, pending final price negotiation. According to CEP, the company will supply B99 that will be blended with petroleum fuels by Dorly to yield the required final blends.

“Dorly is one of several fuel distributors we have diligently cultivated as potential long-term customers for large monthly supplies of ASTM-grade biodiesel,” said Greg Clemons, president and CEO of CEP. “The signed letter of intent is a positive indicator as we advance through the final price negotiation phase. We look forward to serving Dorly and working closely to ensure success.”

Dorly Petroleum, headquartered in Calverton, Md.-based, provides diverse energy sources that include biodiesel and refined petroleum products. The company also provides fuel to both domestic and foreign customers.

CEP, formerly XcelPlus Global Holdings, focuses its business on multiple solutions that aid businesses and government facilities in attaining energy independence, reduced costs and a cleaner environment. In April, Atlas Capital Holdings and CEP reached an agreement under which Atlas Capital would acquire CEP and become a wholly-owned subsidiary of Atlas Capital. According to Clemons, the announced merger is proceeding on schedule and, depending on the timing of the U.S. Securities and Exchange Commission’s review of documents, the two companies anticipate completion of the merger sometime in August.

To learn more about CEP, click here.

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