EQM and Beacon Energy to merge

Ohio, US-based environmental services provider Environmental Quality Management (EQM) and Beacon Energy Holdings, a producer of biodiesel, located in Cleburne, Texas, have signed a definitive merger agreement.

Upon the closure of the agreement, EQM will merge with Beacon and become its wholly owned subsidiary.

Beacon will be named EQM Technologies & Energy.

Upon completion of EQM's due diligence, receiving approval from its lender bank and no material adverse effect on any party, in addition to other conditions, the merger is expected to close later this month.

'The merger of EQM and Beacon is very synergistic,' says Beacon's chairman Carlos Aguero. 'I believe EQM's financial wherewithal, industry expertise and core competencies should help unlock the true potential of Beacon's biodiesel production capacity in this improved market environment for biodiesel.'

The executive officers of EQM Technology & Energy will be the same of EQM, with Jack Greber as CEO and Jim Wendle as president and COO. Robert Galvin will be CFO, secretary and treasurer, and the Board will comprise five directors – Walter Barandiaran, Greber, Jon Colin, Paul Garrett and Aguero.