Gulf Alternative Energy Corporation and Xethanol Biofuels, LLC have reached an agreement for Gulf to purchase an ethanol plant in Balirstown, Iowa. The financial terms of the agreement were not disclosed.
Gulf representatives said the company plans to convert the plant into a cellulosic ethanol plant that will use corn stalks, corn cobs, switchgrass, and agricultural waste products. Although the financial terms of the deal were not disclosed, the Gulf representatives said the two companies expect to close the deal later this year.
If your company needs legal assistance for business litigation, contact Your Iowa Lawyers of LaMarca Law Group, P.C. at (515) 705-0233.