Might biodiesel be dominated by the Candadians in the future? Article here.
Saskatchewan biofuel plant plans for global domination
04/04/2008
REGINA -- Canadian Green Fuels has
revealed plans today for the largest biofuel processing plant in Canada
and it is the company’s goal to become the largest biofuel processing
plant in the world.
The $50-million project is earmarked to build a new plant and provide
an upgrade to the existing Canadian Green Fuels plant in Regina.
“This is an incredible opportunity for Saskatchewan,” says Mike
Shenher, CEO of Canadian Green Fuels. “We expect these plants to have
the capacity to produce 240 million literss of biofuel products a year
and be considered a ‘green’ plant, as all aspects of the plant and
waste products are used to create revenue.”
The planned world-class facility marries two major operations by
including one of the largest oil seed crushing facilities in the
country with one of the largest bio fuel processing and production
systems.
The new plant is expected to produce some 200 million liters a year.
The total organizational capacity between the two plants would be
approximately 240 Million liters a year.
The plant will produce biodiesel, biofuels, bio-oil and bio-additives.
According to Canadian Green Fuels, inputs that are required for this
work will not compete with the food market and the plant will be
powered by the energy it generates.
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| Saskatchewan's biofuel industry is poised for growth. |
Canadian Green Fuels puts the revenues of this joint venture in the $300 million range.
“What makes this real is that we are currently operational, earning
revenues and producing in the market,” notes Shenher. “In an industry
that is quickly emerging we believe we are well positioned to be the
leaders of a potentially multi-billion dollar facility and industry
right here in the heart of Canada.”
Canadian Green Fuels also introduced Troy Metz as the new Chief Development Officer.
“Troy was brought on board to globalize Canadian Green Fuels and to take us public,” adds Shenher.
Canadian Green Fuels is offering to sell shares in this business
venture in accordance with the rules and regulations set down by the
Saskatchewan Securities Act and the Saskatchewan Financial Services
Commission (SFSC).
The yearlong construction project is scheduled to begin in May or June and is expected to open in the summer of 2009.
“A plant this size would probably need in excess of 460,000 metric
tonnes a year of oil seed and what makes us unique is our capability to
crush any oil yielding seed not just canola,” explains Metz.
