A new company has been formed to aid biodiesel companies sell their product. Diesels, LLC, the new company, will be managed by biodiesel consulting group, Lee Enterprises, based in Little Rock, Arkansas. Wayne Lee, principal owner of Lee Enterprises Consulting said he is pleased his company has been selected to lead the new company.
“Diesels, LLC was formed by four individuals with lots of experience in the biodiesel industry,” said Lee. “Two of them own the engineering and design groups that have designed, built and installed more biodiesel plants than anyone I know of. All four have owned a biodiesel plant and have first-hand experience with the problems facing the industry.”
Lee believes his company will have an advantage because they will better help a biodiesel plant receive more of the benefit RINS and the biodiesel tax credit. Oftentimes, the purchaser of the biodiesel does not need the RIN (Renewable Identification Number) or the tax credit and instead by the biodiesel at competitive prices to rack prices of diesel fuel. Prior to forming the Diesels, the founders did extensive research on the rules and regulations to sell biodiesel without RINS of which there are only nine legal ways to do this.
Lee explained, “The RIN and the tax credit were designed to benefit the folks with the risk. Most biodiesel purchasers just want consistently, good quality product at competitive rates. While it may seem like a simple task to simply detach RINS and move on, I can assure you that it is more complex than it might appear. The attorneys, CPAs and other experts have spent quite a bit of time perfecting a system that will work.”
Lee claims the “Diesels’ system” creates a “win/win” situation for everyone.