Biodiesel Provider Acquires Transport Company

Southern States Power Co. Inc., a provider of alternative fuels and a member of the National Biodiesel Board, announced that the company has entered into an agreement for the acquisition of a commercial fuel dispensing facility in Phoenix from Kinder Morgan Energy Partners, LLC and Cardlock LLC, a division of Southern Counties Oil Co.

NEW YORK, New York 2002-03-27 [] Under terms of the agreement, Southern States will purchase all of the equipment, movable assets and personal property at the facility and will enter into a long-term lease of the land from Kinder Morgan. Acquisition of the Phoenix location, strategically positioned adjacent to a Kinder Morgan terminal, will give the company a distribution location for its OxEG Biodiesel in the Arizona market, where there is considerable legislative and public support for the use of biodiesel as an effective alternative fuel. The Cardlock facility is an unmanned commercial filling station for truck fleets, many of which are subject to legislation compelling them to comply with alternative fuel mandates and is located just off Interstate 10 in the South West Valley. The facility provides 24-hour access to fleet operators, and will extend biodiesel availability to smaller fleets that do not have central fueling capabilities. Southern States plans to incorporate the Voyager credit card system at the station for the convenience of government and other fleet users. “Southern States is already supplying fuel to the facility, giving Phoenix area fleet managers a simple and convenient way to earn alternative fuel credits through the use of biodiesel,” said Harrison A. McCoy III, chairman and CEO of Southern States Power Co. “Ownership of this asset will not only give the company direct access to the distribution of its fuel to commercial customers but it also creates another revenue stream for SSPC. Additionally, we are pleased to have the opportunity to integrate into the terminal and pipeline system of Kinder Morgan, one of the largest midstream energy companies in the United States.”
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