noble-citi-and-goldman-up-ethanol-ante-via-deal

Noble, Citi and Goldman up ethanol ante via deal

With a little help from Citigroup and Goldman Sachs, Asia's Noble Group gets involved in a US ethanol business - pushing the alternative energy agenda a bit further.

By Lara Wozniak

July 10, 2006

In a further push into alternative energy, Asia's Noble Group, joins a global effort to up ethanol production - and boost employment in the northeast of the United States.

Noble Americas, a wholly owned subsidiary of global supply chain manager Noble Group announced Monday July 10 that it has added 114 million gallons in offtake per year to its ethanol business through an arrangement with Northeast Biofuels LPÆs NEB ethanol plant. Commercial production is expected to commence by December 2007.

The plant will be located in Volney, New York, about 25 miles north of Syracuse, at the site of a closed brewery. In addition an equity investment was made by US-based Permolex International,...

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