MELBOURNE, Dec 11 (Reuters) - Australian biodiesel company Mission NewEnergy has signed a five-year deal with Valero Energy Corp to supply up to 200,000 tonnes of biodiesel a year, potentially worth up to $3.5 billion.
Oil refiner Valero was also given the rights to buy up to 25 percent of Mission at A$0.45 a share, Mission said on Friday.
The news helped push up shares in Mission NewEnergy, which has operations in Malaysia and India, by as much as 32 percent.
Read more
(The success of the biodiesel fuel industry relies heavily on biodiesel testing, not only at the production level but at the consumer level, where degraded fuel may cause engine failures. Fleet Biodiesel's family of inexpensive biodiesel test kits is just a click away on the internet)