Sunoco Purchases Ethanol Manufacturing Facility
PHILADELPHIA -- Sunoco Inc. completed its purchase of a 100 million gallon per-year ethanol manufacturing facility in Volney, N.Y., from Northeast Biofuels LP for $8.5 million.
As the largest ethanol manufacturing facility in the Northeast, where much of Sunoco’s retail gasoline network is located, the facility will supply approximately 25 percent of Sunoco’s ethanol needs, the company said.
"We are pleased to join the Oswego County community and look forward to playing a productive role in the region," said Sunoco Chairman and CEO Lynn Elsenhans. "Operating this facility, and sourcing as much corn as possible from local growers, will contribute to the region’s economy and support the creation of ‘green’ jobs."
Sunoco views this purchase as a first step into alternative fuels, an area of possible growth for the company.
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As the largest ethanol manufacturing facility in the Northeast, where much of Sunoco’s retail gasoline network is located, the facility will supply approximately 25 percent of Sunoco’s ethanol needs, the company said.
"We are pleased to join the Oswego County community and look forward to playing a productive role in the region," said Sunoco Chairman and CEO Lynn Elsenhans. "Operating this facility, and sourcing as much corn as possible from local growers, will contribute to the region’s economy and support the creation of ‘green’ jobs."
Sunoco views this purchase as a first step into alternative fuels, an area of possible growth for the company.
Related News:
Sunoco Submits Offer to Buy New York Ethanol Plant