GLER and ICE enter JV

A new joint venture has been formed between renewable energy solutions provider Global Earth Energy (GLER) and Innovated Concepts of Ethanol, Corp. (ICE), a South Dakota, US-based biorefining, consulting and services firm.

'The joint venture will have estimated gross revenues of $80 million (€57.9 million) per year for a total revenue of $800 million for the life of the agreement with a gross revenue value to GLER of $160 million,' explains the president and CEO of ICE Jim Zook.

The two companies will partner for 10 years, during which the revenue earned stands at 80%-20% to ICE and GLER, respectively.