Stratos del Peru S.A.C. recently announced the finalization of a Share Exchange Agreement with Stratos Renewables Corp. (SRNW.OB) and the completion of millions in financing. Stratos secured $10 million in financing which will enable the company to expand capacity of its current sugar mill, Estella del Norte, in northern Peru, up to 700 tons of sugar cane per day; allow the company to repay debt; and allow for the completion of relevant, feasibility studies.
The $10 million in financing will also assist the company in reaching its goal to become a leading sugarcane ethanol company in Latin America. Stratos envisions production capacity at 154 million gallons of ethanol per year. Ethanol is a clean burning, high octane fuel derived from renewable sources, which makes it attractive as a fuel alternative. According to the company, combining 20% ethanol in gasoline supply can reduce the amount of oil consumed. With the aforementioned financing, Stratos intends to add an ethanol distillery with potential of an additional 4 million gallons of ethanol production per year.
As the global interest in alternative fuel continues to rise, Stratos is focused on Peru’s economic growth, expansion and positive geographical characteristics for the cultivation, processing and distribution for renewable fuels.
Let us hear your thoughts: Stratos Renewables Corp. Message Board
