BIOX and World Energy team on JV to buy Houston biodiesel plant

In Canada, BIOX Corporation and World Energy announced a 50/50 joint venture to acquire and operate a 90 million U.S. gallon biodiesel production facility in Houston, Texas. Each company has committed US$10 million to the World Energy BIOX Biofuels joint venture.

The facility, formerly known as Green Earth Fuels, is located within the Kinder Morgan Liquids terminal on the Houston Ship Channel and is the third largest biodiesel production facility in North America. The plant acquisition is scheduled to close by the end of June. Plant commissioning and start-up will ramp up over the third quarter of the year.