Newport Biodiesel secures financing for expansion

August 1, 2016 |

In Rhode Island, Newport Biodiesel has secured two $400,000 loans that will help it to expand production with purchase of $1 million’s worth of equipment allowing it to grow to around 7 million gallons of UCO biodiesel production over the next couple of years. Currently the company produces about 4.5 million gallons per year using UCO collected from more than 3,000 restaurants across the US. The loan facilities will also help it to hire eight more people, bringing the total to 35 employees.

Category: Fuels

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