EQM Technologies & Energy, Inc. says it has completed the sale of its biodiesel production facility based in Cleburne, TX and related assets to Delek Renewables, a wholly owned subsidiary of Delek US Holdings, Inc. for approximately $5.5 million in cash. EQM’s tolling agreement for Delek Renewables was terminated concurrent with the completion of the transaction. EQM has used approximately $2 million of proceeds to pay off all unpaid principal and accrued interest under EQM’s secured subordinated notes that were secured by the assets sold in the...
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