Top 18 of 2018 – Looking back to look forward

#12 The Paramount Deal: World Energy takes off with audacious $72M acquisition of AltAir and the Paramount oil refinery

In Massachusetts, World Energy has acquired renewable jet and diesel producer AltAir Paramount, and its Paramount Petroleum refinery assets, both collocated in Paramount, CA, as well an adjacent tank farm and most of Delek’s California pipeline assets, from Delek US Holdings, for $72 million in total consideration.

It’s the first time ever that a biofuels enterprise has acquired a well-known petroleum refinery. Sign of changing times (though there have been noted conversions by petroleum refiners of individual refineries, e.g. Eni’s switchover in Venice, Italy to renewables).
More on the story, here.