EVANSVILLE, Ind.--(BUSINESS WIRE)--Imperial Petroleum, Inc. , announced that it has closed the purchase of 100% of the stock of e-biofuels, LLC, a Middletown, Indiana biodiesel producer with a production capacity of 15 million gallons per year. Imperial paid 2.0 million shares of its common stock and issued Promissory Notes in an amount of $3.75 million to the owners of e-biofuels, LLC for 100% control of the company. E-biofuels has approximately $15 million in debt and payables. As a result of the purchase, e-biofuels is a 100% wholly-owned subsidiary of Imperial. The fiscal 2009 revenues of e-biofuels were approximately $20.0 million with a net loss of about $1.96 million on throughput volumes of 7 million gallons.
Read more
(The success of the biodiesel fuel industry relies heavily on biodiesel testing <http://www.youtube.com/watch?v=s32Ke2VzrqU>, not only at the production level but at the consumer level, where degraded fuel may cause engine failures.  Of major concern to diesel and biodiesel users is the very real possibility that water has contaminated their fuel. (See http://www.youtube.com/watch?v=0YcczdvPyAk).  The potential catastrophic impact of this problem is discussed at length  in this video at: http://www.youtube.com/watch?v=-lh4qhXc_5s&feature=youtube_gdata.
Fleet Fuel's  family of inexpensive biodiesel test kits  is just a click away on the internet at:
<http://fleetbiodiesel.com/biodiesel_testing_and_supplies.html>)