A Canadian biodiesel plant has officially been taken over by a New Hampshire maker of the green fuel. This story from the Pelham News says Atlantic Biodiesel, a new subsidiary of Luxembourg-based Heridge SARL, which won Great Lakes Biodesel’s assets in a recent bankruptcy auction, has begun managerial operations of the $50-million facility.
Michael Paszti has assumed the role of chief operating officer of the subsidiary struck to operate the Welland plant.
“We are strongly committed to the facility’s success and Michael will be an integral, on-the-ground team member whose priority will be to quickly get operations up and running to full capacity,” the company said in a news release issued Wednesday.
“Welland is our home, and Atlantic Biodiesel is focused on continued engagement with local elected and community officials as we work to renew discussions with the federal government. With the support of the community and various levels of government, Atlantic Biodiesel will fulfil its goal of becoming a world-class producer of biodiesel fuel targeting the unique needs of the Canadian fuels complex, and play a critical part in provincial and federal greenhouse gas reduction efforts.”
The plant is capable of producing about 40 million gallons of biodiesel per year. Local officials plan to pressure the federal Canadian government to reinstate some funding that helps keep the refinery afloat.