Bioleum Corporation acquired Hexas Biomass Inc. for approximately $6.5 million, gaining access to high-yield purpose-grown crops that can produce over 100 barrels of biofuel per acre per year. Hexas’ crops are designed to thrive in diverse environments and can transform marginal agricultural lands into “drop-in sedimentary oilfields.” The acquisition will accelerate commercialization and global deployment of these technologies, boosting domestic energy independence and expanding rural economies. Hexas will continue to supply purpose-grown biomass to customers worldwide as part of Bioleum’s system, with Wendy Owens remaining as president of the company.

Read more at GlobeNewswire: Bioleum Corporation Acquires Hexas Biomass Inc.