Attis Industries Inc. (ATIS) said early Tuesday it expects its recently purchased corn ethanol plant in Fulton, N.Y., to generate a revenue of more than $150 million under its current operating conditions.
Attis shares jumped 16% in pre-market trade.
The diversified innovation and technology holding company on Monday finalized the $20 million acquisition of Sunoco LP’s nameplate, 100 million gallons per year corn ethanol plant and grain malting operation.
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Attis Industrials said the corn ethanol plant is “just the base platform for the company’s strategic plan to develop a state-of-the-art green tech campus in Fulton.”
On an annual basis, the Fulton facility is producing 360 million pounds of CO2 for sale into food, beverage or industrial applications and 4 million pounds of malted grain, among other items.
Attis said it has identified several projects at the site that will enhance the site’s profitability and overall production capacity and create roughly 100 high skilled jobs.