A California biodiesel maker is looking to strike a deal with a casino presumably to recycle the leftover cooking grease from the operation. Extreme Biodiesel Inc. says it is terminating its agreements with Promethean Biofuels so it can pursue the deal with the yet-to-be-identified Indian casino in the state.
Company President Joe Spadafore stated “The relationship with Promethean is being terminated in the best interests of our shareholders as we feel Promethean has not performed. There is a silver lining however in that Extreme Biodiesel is currently pursuing several other prospects including negotiations with an Indian Casino located on an Indian Reservation in Southern California. This is very positive for Extreme, as working directly with the Indians should enable increased profit potential for the Company as well as expansion into other areas.”
While not saying much about the deal, Extreme Biodiesel officials say they are testing some of their equipment on the reservation.