Verde Bio Fuels inks deal to acquire 10 Mgy of biodiesel from new Goshen Energy Plant

In South Carolina, Verde Bio Fuels will purchase up to 10 Mgy of B100 and B99.9 from the Goshen Energy biodiesel plant, and has obtained first right of refusal on any additional production. The agreement calls for Verde to pay the production cost of the fuel, with Goshen and Verde to split the net profit from sales. Goshen will commence production at its facility in the second quarter of 2008.

Goshen is in discussions to build four other regional hubs for distribution of  B100 biodiesel fuel over the next 24 months, and to establish at least two university research centers. The initial planned biodiesel hub and research areas include Coastal South Carolina, Louisville, Las Vegas, Philadelphia, Dover, Los Angeles and Dallas.

Elsewhere in South Carolina, two Chester County ethanol plants continue to move forward in their permitting and planning reviews. The plants use corn and wood-based cellulosic ethanol processes, respectively. South Carolina, like the rest of the Southeast, has lagged in biofuel production and distribution, but a far higher percentage of cellulosic ethanol projects are expected to be developed in the region.

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