ALL Fuels & Energy, a development-stage ethanol company organized to operate as an ethanol producer, focusing primarily on the production and sale of alternative fuels, including ethanol and its co-products, recently announced that it has secured a 30-day extension of its exclusivity period under an existing letter of intent to acquire an operating ethanol plant located in the Midwest United States.
Under the new terms, the exclusivity period now extends through the middle of September 2010. The company indicated that, after executing the definitive purchase agreement, it is expected that a closing would be held within approximately 30 days. ALL Fuels and its industry partners continue their due diligence efforts.
Dean Sukowatey, chief executive officer and president of ALL Fuels, stated, “We’re continuing to make progress on this exciting opportunity.” Mr. Sukowatey continued, “Our valuable industry partners who are important in our finalizing the necessary financing continue to support us. We look forward to a successful conclusion to this transaction.”
For more information, please visit www.allfuelsandenergy.com.