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Attis Industries concludes USD-20m acquisition of NY ethanol plant

Ethanol plant in the US. Featured Image: Jim Parkin/Shutterstock.com

June 4 (Renewables Now) - Attis Industries Inc (NASDAQ:ATIS) has finalised the acquisition of the corn ethanol plant and grain malting operation based in Fulton, New York, for USD 20 million (EUR 17.8m) in cash with non-dilutive financing.

The arrangement with the vendor, US motor fuel distributor Sunoco LP (NYSE:SUN), includes a six-month transition services agreement and a 10-year off-take agreement for the ethanol produced at the plant, Attis said Monday.

The acquisition fits into Attis’ strategy to build a green tech campus at the Fulton site and expand the ethanol production at the facility. The green tech campus will feature a biodiesel plant, which could use as feedstock the corn extract produced at the ethanol plant, and a bio-refinery. In the long term, the company is eyeing some solar and wind power generation capacity near the site.

(USD 1.0 = EUR 0.89)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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