William O. Sheaffer, SSPC's executive vice president for sales and marketing, commented: "This is the first volley in a series of tactical moves to rapidly realize our ambitions to support portfolio companies that will become a prime source of supply for biodiesel.
We are extremely pleased to expand our capabilities in the western United States through this new entity.Our partners in this L.L.C. have done extensive fieldwork to develop the full potential of biodiesel in this key western market and have developed critical relationships with end-users, including those in the military as well as commercial fleets.We recently announced plans for major production facilities in the California and Arizona markets.
"Through these investments, we intend to bring value to our shareholders by aggressively incorporating diversified interests into the company's portfolio of investments.By participating in the formation of a sales and marketing company in Colorado, which is well within the reach of distribution from our planned Arizona plant, SSPC
has expanded its reach as a major alternative energy player in the United States."