IHS Chemical Week

EnviroTech :: Alternative fuels

Allegro to Sell Biodiesel Plant Amid Unfavorable Economics

9:13 AM MDT | May 23, 2008 | Michelle Bryner

Allegro Biodiesel (Los Angeles, CA) has signed a letter of intent to sell its biodiesel venture Vanguard Synfuels, which operates a 12-million gal/year biodiesel plant at Pollock, LA, to investor group Port Asset Acquisition. The deal is expected to close on June 30. Allegro says that due to the unrelenting high cost of soybeans over the last several months the company has been unable to turn a profit producing biodiesel from soybeans. The company says that the U.S. biodiesel industry as a whole is suffering the same difficulties as evidenced by the shutting down...

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