Dallas, United States [RenewableEnergyWorld.com] Southridge Enterprises, Inc. announced that it has entered into an ethanol sales agreement with Agrobin Hunt Corp (AHC) for the supply of 55 million gallons of ethanol over the next year, with an option to extend for another two years.
Deliveries are expected to begin in June 2008 with the ethanol being sourced from Petrozilian Energia SA (PES) in Brazil. Prior to this new agreement Southridge completed a similar ethanol purchase and sale transaction that netted a profit of US $2,205,000. Southridge purchased ethanol from PES and sold the product to AHC, which then had it shipped to the United Kingdom (UK).
“The agreement with AHC represents Southridge’s continued commitment to work with Brazil, the world leader in sugarcane ethanol production,” said Ken Milken, CEO of Southridge.