JV aims to replace diesel
With a view of forming a joint venture to create a biofuels business, Amelot Oil and state-owned energy provider Barbados National Oil Company Ltd. (BNOCL) have signed a Memorandum of Understanding (MoU).
Amelot Oil is owned by renewable fuels manufacturer Amelot Holdings and is already producing biodiesel from used cooking oil at its Amelot Oil Barbados plant, and has been since 2008.
The first phase of the JV will see the development of a 6 month pilot project looking at the effects of using biodiesel in the nation. A fuel station, featuring a B20 diesel pump, will also be erected.
In the second phase of the venture Amelot and BNOCL will combine their efforts and jointly run the biodiesel production plant. BNOCL hopes to eventually replace conventional diesel with 100% biodiesel.
‘The joint venture would enable Amelot to set up a profitable biofuels business with the potential to deploy next generation technologies,’ said president and CEO of Amelot Holdings Fred Guarnieri. ‘We have been looking for a partner with the resources and scaling capabilities to rapidly industrialise our biodiesel production in Barbados.’
Amelot Oil is owned by renewable fuels manufacturer Amelot Holdings and is already producing biodiesel from used cooking oil at its Amelot Oil Barbados plant, and has been since 2008.
The first phase of the JV will see the development of a 6 month pilot project looking at the effects of using biodiesel in the nation. A fuel station, featuring a B20 diesel pump, will also be erected.
In the second phase of the venture Amelot and BNOCL will combine their efforts and jointly run the biodiesel production plant. BNOCL hopes to eventually replace conventional diesel with 100% biodiesel.
‘The joint venture would enable Amelot to set up a profitable biofuels business with the potential to deploy next generation technologies,’ said president and CEO of Amelot Holdings Fred Guarnieri. ‘We have been looking for a partner with the resources and scaling capabilities to rapidly industrialise our biodiesel production in Barbados.’
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