Viking to acquire Ryze’s Reno-based renewable diesel project
Houston-based Viking Energy Group Inc. has entered into an agreement to acquire the Ryze Renewables project in Reno, Nevada. The estimated production capacity of the renewable diesel plant, which is 95 percent complete, is 43 million gallons per year. According to Viking, a pretreatment unit being built on-site is roughly 30 percent complete.
Viking is paying $8 million in cash along with shares of convertible preferred stock. For more information on the value of the transaction, click here.
Closing is conditional on Viking obtaining financing and other terms.