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ROCKAWAY Able Energy last week announced a joint venture agreement with Delaware-based BioEnergy of America to produce and distribute clean-burning biodiesel at plants to be constructed at truck-stop plazas, home-heating depots and terminals used to house petroleum products for distribution or resale. Biodiesel is a renewable fuel derived from natural sources like soybean oil. Each company involved in the venture, called USA Biodiesel, will have a 50% membership interest. Able will construct and own the plants using BioEnergy’s designs and technology. When completed, each plant is expected to produce 15 million gallons a year. Able Energy, based in New York City, has administrative offices in Rockaway. Late last week, Able shares were trading at around $5.75, near the low of their 52-week range of $4.11 to $17.57. For the fiscal year ended June 30, 2005, Able reported net sales of $61,964,825, with a net loss of $2,110,257.
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