TroyGould Client Global Clean Energy Holdings, Inc. Acquires Bakersfield Refinery
Global Clean Energy Holdings, Inc. (OTC: GCEH) announced that on May 7, 2020 it purchased the Alon Bakersfield Refinery for total cash consideration of $40 million. Alon Bakersfield Refinery is an existing oil refinery located in Bakersfield, California, that has historically produced diesel from crude oil. Global Clean Energy is retooling the refinery to produce renewable diesel from organic renewable feedstocks, such as camelina, used cooking oil, soybean oil, distillers’ corn oil, and other non-petroleum feedstocks.
TroyGould attorneys Istvan Benko, Alan Spatz, and Peter Hurm represented Global Clean Energy Holdings, Inc. in the transaction.