BIOX & World Energy Purchase Houston #Biodiesel Plant

Joanna Schroeder

BIOX Corporation is continuing to grow its biodiesel business with the announcement of a 50-50 joint venture with World Energy to acquire and operate a 90 million gallon biodiesel plant in Houston, Texas. This is the company’s second acquisition this month with the purchase of the Methes Energies biodiesel facility in Ontario.  Each company has invested $10 million to the project and the deal is expected to close by the end of June 2016.

BIOX and World Energy have partnered to purchase the Green Earth Fuel #biodiesel plant in Houston, TX.

BIOX and World Energy have partnered to purchase the Green Earth Fuel #biodiesel plant in Houston, TX.

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. Plant commissioning and start-up will ramp up over the third quarter of the this year.

“This joint venture with World Energy and the acquisition of a 90 million USG facility provide BIOX an opportunity to significantly expand and diversify our production capacity in combination with a high quality partner,” said Alan Rickard, Chief Executive Officer of BIOX. “It is a large scale asset that is well positioned to supply biodiesel for compliance with the Federal Renewable Fuel Standard in the U.S. market. As we see the distribution of our products from our facilities in Ontario shifting from the U.S. market to fulfill the mandates under Ontario’s Greener Diesel initiative, this acquisition provides us with a strategically positioned production facility from which we can address the U.S. market in partnership with World Energy.

Gene Gebolys, Chief Executive Officer of World Energy, added, “World Energy and BIOX have been biodiesel industry pioneers dating from the very beginnings of the industry. This venture enables us to lever our collective strengths to serve customers better than ever before with unparalleled logistical access by rail, truck, barge, ship, and pipeline to the biggest biofuels markets in the U.S. and beyond.”

advance biofuels, Biodiesel