InvestorsHub Logo
Boards
News
Market Data
Markets
Discover
Discover
Subscribe Login/Register
S&P 500
5,482.87
(
0.09%
)
US TECH 100
19,294.80
(
0.42%
)
Dow Jones
39,164.06
(
0.09%
)
Brent Oil
85.42
(
1.12%
)
Bitcoin
61,558.53
(
1.23%
)
Post# of 1030
Next 10
Reply Private New
Public Reply Private Reply New Post
Keep Last Read
Keep Next 10 Report Keyboard Shortcuts
Next 10 Prev Next

AMERICAN_PSYCHO

Send PM Follow Ignore
Followers 85
Posts 7844
Boards Moderated 0
Alias Born 04/15/2007

AMERICAN_PSYCHO

Re: None

Monday, 11/26/2007 6:33:56 AM

Monday, November 26, 2007 6:33:56 AM

Post# of 1030
Investment bank to assist plant developer

Thursday, November 15, 2007

The company that plans to build a 10-million-gallon-a-year biodiesel operation near Fulton announced Wednesday that it has engaged an investment bank to help raise money for the Fulton plant and other projects.

GS AgriFuels Corp., the majority owner of the GS Fulton Biodiesel project, plans to raise about $150 million during the next three to six months, said Thomas Scozzafava, chief executive officer. About $25 million would go toward developing the Fulton plant, which is expected to be built alongside the Northeast Biofuels ethanol facility at the former Miller brewery in Volney.

GS AgriFuels has engaged Fieldstone Private Capital Group, a small investment bank based in New York City, to help raise the money. Fieldstone has not yet determined what mix of debt and equity to seek, Scozzafava said.

GS AgriFuels already has ordered some equipment for its Fulton facility, construction of which is planned for 2008 - after Northeast Biofuels, which is under construction, nears completion. GS Agrifuels also plans biodiesel facilities in Iowa and Indiana, Scozzafava said.

In 2006, GS AgriFuels bought NextGen Fuel, of Potsdam, the company that initially planned to build the Fulton plant.

GS AgriFuels plans to make biodiesel primarily from corn oil, possibly supplemented with other feedstocks such as soy oil or animal fat. The company's common stock, which trades on the OTC Bulletin Board, closed Wednesday at 46 cents, near its 52-week low.

http://www.syracuse.com/poststandard/stories/index.ssf?/base/business-11/119512092241570.xml&coll=1

ALL POSTED BY AMERICAN_PSYCHO IS EITHER FACT OR OPINION.

Public Reply Private Reply New Post
Keep Last Read
Keep Last Read Next 10 Report Keyboard Shortcuts
Next 10 Prev Next

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Sign Up