The transaction will bring approximately $900,000 of cash into the company after paying costs, taxes and redeeming a mortgage for $500,000.
This sale is part of the company’s ongoing strategy to streamline operations and dispose of non-core assets to realize cash for investment into its first waste-to-energy production facility, the company said.
Four Rivers BioEnergy said that it has now realized total cash of approximately $4m from the sale of non-core assets.
Meanwhile, the company retains 217 acres of its Calvert City, Kentucky land, which is comprised of prime areas of river frontage and land with a high industrial development potential.
The company is currently evaluating options for this land, which may include using it as partial security to underpin a future financing and potentially using the site, or part of it, to build a second waste-to-energy facility.
Four Rivers BioEnergy is focused on realizing the potential to produce and sell energy from sustainable waste and renewable feedstocks.
