Goldman Sachs Invests in Green Earth Fuels

Energy Resource, Dec 20, 2006

ENERGY RESOURCE-20 December 2006-Goldman Sachs Invests in Green Earth Fuels(C)2006 JeraOne - http://www.jeraone.com

Biodiesel producer Green Earth Fuels and its majority investors, Riverstone Holdings LLC and The Carlyle Group, today announced that Goldman Sachs, through GS Power Holdings LLC, has invested in Green Earth Fuels.

Goldman Sachs acquired its interest from the Carlyle /Riverstone Renewable Energy Infrastructure Fund (CRREIF). CRREIF originally made its investment in July of 2006.

Green Earth is building 86 million gallons of biodiesel production capacity at the Kinder Morgan Galena Park Liquids Terminal located on the Houston Ship Channel in Texas and is expected to be on line in the third quarter of 2007.

The company has also secured state and local permits for an additional 86 million gallons of production capacity at the Kinder Morgan Terminal in Harvey, La. Green Earth anticipates beginning construction on the facility in early 2007.

"Given their history, record of success, and market insight, we are excited to have Goldman Sachs on our team," said Green Earth President and Chief Executive Officer Greg Bafalis. "In particular, their expertise in the energy, financial and commodity markets will add considerable value to our team. With Riverstone, Carlyle, and Goldman Sachs as our investors, we have three of the largest and most experienced energy infrastructure players in the United States supporting our continued growth. This combination of energy investors is a powerful endorsement of our business plan, which differentiates Green Earth from other biodiesel companies."

For more information, visit www.greenearthfuelsllc.com.

((Comments on this story may be sent to newsdesk@scitech21.com))

((Distributed via M2 Communications Ltd - http://www.m2.com))