Renewable Fuel Corp Acquires Two Biodiesel Projects
Posted on: Thursday, 25 September 2008, 12:00 CDT
Renewable Fuel Corp (RFC), a leading producer and supplier of biodiesel and biodiesel blended fuels in North America and in key International markets, is pleased to announce today the acquisition of Bio Refining Industries, Inc. (BRII) which owns two Indonesian biodiesel projects, licenses and plant properties with nameplate capacity of 400,000 Metric Tons (MT) per year of biodiesel.
The facilities are in the early stages of development in Dumai, Indonesia. When at full production capacity the plants will have the ability to produce 120 million gallons of B100 biodiesel per year. The plant projects are strategically located adjacent to a primary international shipping route and near Kota Dumai and the port. Additionally, there is a large of supply of agriculturally produced crude palm oil and jatropha, which will be used as feedstocks.
These plants, when combined with RFC's current facilities in Kuantan, Pahang, Malaysia, will create one of the largest premier biodiesel and biofuels manufacturers and distributors in the industry. The combined nameplate capacity of all three plant facilities will be over 600,000 MT per year yielding 180 million gallons of B100 biodiesel per year. RFC will also have a significant position in the carbon credits marketplace, with carbon credits produced for each ton of biodiesel created.
"I have a vision of building a company that can truly leverage the worldwide biodiesel opportunity," said William Van Vliet, Chairman of Renewable Fuel Corporation. "This new acquisition is an important addition in our strategy to build a diverse worldwide green fuel company. As Chairman I intend to pursue a strategy of creating one of the most advanced vertical providers in the biodiesel / biofuel industry. With these new biodiesel facilities we are well positioned to fulfill this strategy."
About Renewable Fuel Corp
Renewable Fuel Corp is a premier provider of biodiesel and blended fuel solutions worldwide. The company operates a biodiesel facility in Kuantan, Malaysia which produces biodiesel for sale in the United States and Europe. Renewable Fuel Corporation produces all of its biodiesel to ASTM and EN biodiesel standards. Additionally Renewable Fuel Corporation is a distributor of ULSD D2 diesel fuel; the company provides custom biodiesel blends for customers to meet requirements for renewable fuel mandates in the United States and worldwide. For more information, contact us at +1.702.989.8978, or visit us at www.rfuelcorp.com.
For Information Contact: Renewable Fuel Corporation +1.702.989.8978 ext 1040 Email Contact
SOURCE: Renewable Fuel Corp
Source: MARKET WIRE
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