Simple Fuels to buy Yokayo Biofuels

In the US, Simple Fuels is to acquire the assets of California-based Yokayo Biofuels.

The transaction includes the sale of Yokayo's biodiesel operations, as well as its oil collection activities and deep fryer oil collected from local restaurants.

It has been reported that Simple Fuels will continue producing and supplying biodiesel at the same price of $4.70 (€3.70) per gallon.

Following the completion of the transaction, the company will resume delivering the biofuel to customers as well as supplying it to retail pumps.

A lack of government support is being blamed for Yokayo's decision to sell, as well as a lack of matching funds.