Monday, March 4, 2013

Sundrop Fuels Buys Alexandria Land

Sundrop Fuels, a Colorado-based biofuels company, closed on a second land acquisition in the Alexandria, LA area last week.  The company bought 1,213 acres for $4.752 million.  The property is adjacent to another 27.5 acres that will serve as the company's regional headquarters.

Sundrop, which is backed by Chesapeake Energy, plans to convert wood chips and forest debris using natural gas into "green gasoline."  The Alexandria project is more of a pilot project with a projected output of around 1.2 million barrels per year.  If successful, the company will aim to build a larger plant using the same methodology.

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