Biofuel Industries Group’s plant faces meltdown
Biofuel Industries Group’s NextDiesel Adrian, Michigan-based biofuel plant may shut down operations when its current stock of material is gone, the company’s CEO says.
The rising cost of production and falling price of oil have contributed to a decrease in the demand for alternative fuels.
‘The current cost of inputs to make the company’s product and the market price of diesel fuel make it impractical to continue production for now, Terry Nosan, CEO of Biofuels Industries Group, comments.
The company has discontinued its purchase of corn oil and other material it turns into diesel fuel.
The workforce of 26 people has been trimmed and production geared back while the plant uses up its remaining stock of material. When that runs out in two or three weeks the company will have to decide what steps to take next.
The plant opened in August 2007.
The rising cost of production and falling price of oil have contributed to a decrease in the demand for alternative fuels.
‘The current cost of inputs to make the company’s product and the market price of diesel fuel make it impractical to continue production for now, Terry Nosan, CEO of Biofuels Industries Group, comments.
The company has discontinued its purchase of corn oil and other material it turns into diesel fuel.
The workforce of 26 people has been trimmed and production geared back while the plant uses up its remaining stock of material. When that runs out in two or three weeks the company will have to decide what steps to take next.
The plant opened in August 2007.
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