DOTHAN, AL -- Clean Energy Pathways Inc., an alternative and renewable energy company, has signed a letter of intent to provide 40,000 barrels (1,680,000 gallons) of ASTM-grade biodiesel to Dorly Petroleum.
Dorly Petroleum, headquartered in Calverton, Md., is a fuel distributor. Clean Energy Pathways will supply B-99.9 biodiesel that Dorly will combine with petroleum fuels to yield the required final blends.
"Dorly is one of several fuel distributors we have diligently cultivated as potential long-term customers for large monthly supplies of ASTM-grade biodiesel," said Greg Clemons, president and CEO of Clean Energy Pathways. "The signed letter of intent is a positive indicator as we advance through the final price negotiation phase."
Clean Energy Pathways' announced merger with Atlas Capital Holdings is proceeding on schedule, Clemons added. Depending on the timing of the SEC's review of documents, the two companies anticipate completion of the merger sometime in August.