Californian biofuels acquisition going Extreme

Extreme Biodiesel has entered talks to acquire fellow California-based Promethean Biofuels in a move to increase its presence in the sector.

PB is a co-operative corporation and, apart from the used motor oil and waste vegetable oil collection, its products and services are only available to members of the co-operative.

‘This relationship between us and Promethean has flourished over the past several years, with talks of an acquisition having taken root several months ago,’ says Joe Spadafore, Extreme’s corporate secretary. ‘This is an opportunity to expand in the industry with a means to enter into a cooperative environment through an established company.’