Terra Energy Resources Ltd announced the final negotiations for the acquisition of an oil terminal in western Pennsylvania. This acquisition will include land, buildings, and equipment. The facility in question has a potential capacity of 24,000,000 gallons annually. Terra Energy Resources plans on producing biodiesel for use in home heating fuel while taking advantage of incentives offered by the state of Pennsylvania for production of alternative fuels.
“Biodiesel as a home heating fuel is a grossly overlooked market, and we look forward to leading the way in its implementation,” said Matt Conners of Terra Energy Resources.