Imperial subsidiary on target to produce 24mgy of biofuel

October this year saw Imperial Petroleum’s wholly owned subsidiary e-biofuels, based in Middletown, Indiana, sell 1.98 million gallons of biodiesel, bringing in approximately $6.3 million (€4.48 million) in revenues for that month alone.

First quarter revenues for biodiesel sales represent approximately $16.7 million on 5.2 million gallons sold.

‘It has been very exciting to see the daily increases in activity that the e-biofuels plant translate into increased sales and revenues for the company,’ said Imperial’s president Jeffrey Wilson. ‘Sales in the 2009 calendar year averaged 7 million gallons are we are now on pace to maintain biodiesel sales at around an annual pace of 24 million gallons with revenues approaching $70 million per year.’