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Second bio-diesel plant planned for Stockton
Stockton
February 4, 2008 5:59AM
A second company says it is planning a plant to make bio-diesel fuel in Stockton. USBioDiesel Group LLC of San Francisco says its facility is slated for land at the Port of Stockton.
If built as planned it would be near a previously announced bio-diesel plant now under construction by Community Fuels of Encinitas. Community’s plant is getting $8 million in tax-exempt bond financing. USBioDiesel says its company is funded by nearly $100 million from private equity in a Series A equity round which closed in July 2007. Primary investors include U.S. Renewables Group, a private equity renewable investment fund; ED&F Man, an international commodity trading company; Ohana Holdings, an Omidyar Family investment fund, and Supreme Oil, a division of Admiration Foods, a large U.S. soybean oil buyer.
The Stockton plant is one of two announced Monday by USBioDiesel. The other is expected to open in May in Seabrook, Texas, along the Houston Ship Channel. No opening date has been announced for its plant in Stockton. "U.S. Renewables Group believes in the long-run importance of bio-diesel to global energy supply," says Jim McDermott, CEO of U.S. Renewables Group.
Community Fuels is building its Stockton facility in a 40,000 square-foot former warehouse. Plans call for construction of storage tanks, a cooling tower, and distillation column and energy generator –- all for production of the fuel. The facility, which will bring 35 new jobs to the area, will produce approximately 7.5 million gallons of bio-diesel per year.
Source: Reprint from http://www.centralvalleybusinesstimes.com/
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