Local biofuel company in Louisville, Sundrop Fuels Inc., on Monday has signed agreements to receive $175million to build a "green gasoline" biorefinery. The funds will come from Chesapeake NG Venture Corp. which is a subsidiary of Chesapeake Energy Corp., an Oklahoma based natural gas company. Chesapeake holds a 50% stake in Sundrop Fuels.
Sundrop plans to build the oil refinery in 2012. The refinery is expected to produce more than 40million gallons of gas every year!
What this means: What this contract means is that Louisville, CO is going to see a BOOM in growth over the next couple of years. This large investment will stimulate the economy, create jobs and opportunity for Louisville and the surrounding towns.
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