MILTON, GEORGIA, U.S. — Attis Industries, a holding company with interests in the renewable fuels industry, has reached agreement to acquire Sunoco LP’s corn ethanol plant and grain malting operation in Fulton, New York, U.S., for $20 million.
“The acquisition of Sunoco’s Fulton, N.Y., ethanol plant is a significant step in Attis establishing a foothold in the renewable fuel space, while accessing the fourth largest gasoline market in the United States,” said Jeff Cosman, chief executive officer of Attis Industries. “Attis’ familiarity with the facility as well as the progressive business environment in the state of New York provide us with a unique opportunity to transform an asset with incredible potential into an innovative campus for bio-based fuel that is consistent with our short- and long-term growth strategy.
“We believe the demand for low carbon energy sources will continue to increase in the coming years and Attis is well positioned to be able to grow with that trend. The Fulton ethanol facility generates significant revenue for our growing company, it greatly changes the perspective of our investors in Attis and enables Attis to roll-out additional technology platforms under the Innovations division to expand our revenue and cash flow projections over the next two years. Having an established asset like the Fulton, N.Y., ethanol plant on the books allows us greater access to financing opportunities, as well as provides us with a shovel ready site to begin the development and commercialization of some of our previously announced technologies.”