Biofuel producer Vertex Energy files for bankruptcy after struggling with unfavorable market conditions and a disappointing federal biofuel blending quota increase.
Vertex Energy , a biofuels producer based in Alabama, has filed for bankruptcy after struggling to stay afloat for months. The company said that a sale may be one of its options as it succumbed to an unfavorable macroeconomic environment that earlier this year forced it to close its biodiesel production facility in Mobile, Alabama. Vertex’s woes likely stemmed from the fast buildup in biofuel production capacity across the United States over the past few years.
Vertex was one of these in May, the company said it would convert its biodiesel hydrocracker unit at the Mobile refinery to hydrocarbons by the end of this year.
Vertex Energy Bankruptcy Renewable Energy Biofuel Blending Quotas Hydrocarbons Environmental Protection Agency Biofuel Production Wall Street Journal
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