Zenergy International Inc. (ZENG)

[F4Uvet]

Instead of Due Diligence, some of you people think DD means Dumb Decisions


Houston Biodiesel Plant For Sale
By Clifford Krauss
The GreenHunter logo.

When the $70 million GreenHunter Energy biodiesel refinery opened on the Houston Ship Channel almost exactly a year ago with the capacity to produce 105 million gallons of fuel a year, Texas Gov. Rick Perry bragged that the plant embodied “the future of energy in Texas and the United States.”

But on Tuesday The Houston Chronicle reported that GreenHunter is financially strapped and seeking to sell the plant. The refinery — reported by The Chronicle to be the country’s largest — has been idled the last four months due to low demand for fuel in the United States, as well as new trade barriers imposed by Europe on American biodiesel exports. Damages from last summer’s Hurricane Ike didn’t help matters either.