Attis Industries has completed the acquisition of a 100 million gallon per year corn ethanol plant and grain malting facility in Fulton, New York from Sunoco, for $20 million (€17.7 million) in cash.
According to Attis, the acquisition is a crucial element of its expanding technology portfolio, as it develops the site into a Green Tech campus.
“We are incredibly excited to announce the acquisition of the Fulton corn ethanol plant and grain malting operations,” said Jeff Cosman, CEO of Attis. “This acquisition is an important milestone for Attis as we embark on our mission to be a significant contributor to the global renewable fuel market.”
The acquisition transaction includes a six-month transition services agreement, in addition to a ten-year offtake agreement for ethanol produced at the Fulton facility.
“When evaluating potential locations for Attis to establish a foothold in the renewable fuel space, the Fulton site was an obvious choice based on its strategic location to the strong northeastern fuel market, state-of-the-art and well-maintained facility as well as site expandability for future upgrades in operations,” added Cosman. “These desirable site attributes, as well as the state of New York’s continued commitment to the growth of green energy, made Fulton an ideal fit for Attis.”
“As a company, we have established aggressive growth goals for the deployment of our transcendent green technology portfolio and look forward to relentlessly pursuing future milestones as we position Attis as the premier green energy producer in the world,” he concluded.