US-based Vireol Bio Energy (Vireol) has signed a marketing agreement with Murex for the bioethanol plant in Hopewell, Virginia.

Vireol has revealed its plan to start production at its Hopewell plant, which has an annual production capacity of about 63 million gallons of ethanol, in April 2014.

Earlier, the company had planned to transfer the plant to the UK but later on it decided to take advantage of the more focused legislative environment and more mature US market.

Vireol CEO Peter McGenity said the company will be able to start ethanol production at the Hopewell plant with the support of Governor McAuliffe’s office and the city.

"After reviewing our original strategy to relocate the plant to UK, we are pleased to emphasise our commitment to all of our stakeholders based on starting up one of the world’s most modern ethanol plants here in Hopewell," McGenity added.

Murex president Robert C. Wright said, "The Hopewell, Virginia ethanol plant is in a unique position in the ethanol market, and Murex is looking forward to partnering with Vireol to capitalize on their opportunities."