Four Rivers Bioenergy acquires Kreido Biofuels assets, will use in Kentucky biodiesel project

In Kentucky, Kreido Biofuels announced the sale of all its material assets to Four Rivers BioEnergy, which thereby acquires Kreido’s spinning tube-in-tube STT reactors, and modular biodiesel production plant equipment. The purchase price for the assets was $2.8 million in cash, 1,200,000 shares of Four Rivers BioEnergy common stock, warrants, and the assumption of certain purchase obligations. Kreido will use the cash proceeds to settle debts with creditors, and the company commented that it would participate in the upside via the stock portion of the transaction.  Four Rivers BioEnergy is developing Phase I of a multi-product, integrated bioenergy facility near Calvert City, Kentucky.

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