Reopening ceremony at REG’s 60mgy plant
Back in April this year biodiesel firm Renewable Energy Group (REG), based in Ames, Iowa, US, became the operator of Nova Biosource Fuels’ former 60mgy biodiesel plant and glycerine refining facility in Seneca, Illinois.
The grand opening of the facility is now due to take place on 12 August 2010 in Seneca and attendees will see the first truckload of REG-9000 biodiesel picked up by Meier Oil of Ashkum.
Under the transaction REG acquired the facility and intellectual property rights out of Nova’s bankruptcy and then executed a leaseback agreement with a closely related investor group.
The site consists of three 20mgy biodiesel process units, a technical grade glycerine refining facility, raw material and finished product storage as well as a rail car and truck unloading and loading with the potential for barge transportation. Prior to REG’s involvement the facility had been idled for more than a year.
'Since we acquired the property in April we've been through a really detailed inspection, renovation, retrofit and repair/upgrade programme,' said Daniel Oh, president and COO at REG. 'The facility is, by design, generally as you'd expect, but we've made a lot of operational and other improvements as we've moved along.'
REG now wholly owns five biodiesel production businesses in Ralston, Houston, Newton, Danville and Seneca and sells biodiesel in 49 states.
The grand opening of the facility is now due to take place on 12 August 2010 in Seneca and attendees will see the first truckload of REG-9000 biodiesel picked up by Meier Oil of Ashkum.
Under the transaction REG acquired the facility and intellectual property rights out of Nova’s bankruptcy and then executed a leaseback agreement with a closely related investor group.
The site consists of three 20mgy biodiesel process units, a technical grade glycerine refining facility, raw material and finished product storage as well as a rail car and truck unloading and loading with the potential for barge transportation. Prior to REG’s involvement the facility had been idled for more than a year.
'Since we acquired the property in April we've been through a really detailed inspection, renovation, retrofit and repair/upgrade programme,' said Daniel Oh, president and COO at REG. 'The facility is, by design, generally as you'd expect, but we've made a lot of operational and other improvements as we've moved along.'
REG now wholly owns five biodiesel production businesses in Ralston, Houston, Newton, Danville and Seneca and sells biodiesel in 49 states.
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