Renewable Energy Group, Inc. (NASDAQ:REGI) announced today that one of its subsidiaries has received approval from a Mississippi court to purchase certain equipment at the KiOR Columbus, LLC production facility.
Under the approved asset purchase agreement, REG Synthetic Fuels, LLC paid $1.5 million, plus certain expenses related to equipment preparation, to acquire various physical assets at the Columbus, MS plant, including a 12-million gallon hydrotreating unit, distillation column and tankage.
“These are quality assets we were able to purchase for a very good value,” said Brad Albin, Vice President, Manufacturing. “We plan to re-locate and utilize the equipment for future advanced biofuel or renewable chemical projects.”
Renewable Energy Group, Inc. is a North American advanced biofuels producer and developer of renewable chemicals.