Meat-producing giant Tyson is making a bid to be a player in the burgeoning biodiesel market.
This story posted on the Meatingplace.com says Tyson has announced a joint venture with Syntroleum Corp., a Tulsa-based synthetic fuels technology company:
The move creates Dynamic Fuels LLC, which will produce synthetic fuels targeting the renewable diesel, jet and military fuel markets.
Tyson, the nation’s largest protein processor, will supply feedstock derived from animal fats, greases and vegetable oils for the 50/50 joint venture, which aims to construct and operate multiple stand-alone commercial facilities.
The first facility, expected to start construction in 2008 at a yet-to-be-determined site in the south central United States, will produce about 75 million gallons of synthetic fuel annually using a process patented by Syntroleum, with production set to begin in 2010.
The $150 million project adds to Tyson’s growing biodiesel ventures. You might remember last April, Tyson announced a partnership with ConocoPhillips to produce biodiesel. That partnership has drawn the ire of the National Biodiesel Board and some lawmakers who say the companies are trying to take advantage of a tax credit intended for up-and-coming biodiesel producers, not big oil companies (see my posts on April 18th and April 20th).