Interest rises for British Columbian biofuel market

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Texas-based fuel producer Benefuel announced that they have begun a site search in Canada after British Columbia’s recently publicised climate change plan included an expanded ‘Low Carbon Fuel Standard’ incentivising biofuel producers.

According to a press release, the initiative has ‘assisted’ Benefuel in prioritising its expansion efforts, given that British Columbia has specific target volumes for biodiesel blending and carbon reductions as well as enticing funding support.

“B.C.’s LCFS and climate change strategy have made B.C. a very attractive jurisdiction to locate and invest in a biodiesel facility,” said Rob Tripp, Benefuel CEO.

“Our company and our shareholders are committed to building a world class biodiesel facility in Canada in the most attractive jurisdiction.”

Benefuel claims that it will be ‘immediately’ begin searching for a suitable location within British Columbia to build a 150 million litre per year biodiesel plant. The fuel produced at the plant will have a negative carbon intensity score as well as being capital efficient.

The total project, according to Benefuel, will reduce greenhouse gas emissions by over 550,000 metric tonnes annually.