TexCom, Inc. has received a $6 million project finance equity commitment to expand its Biodiesel operations into the state of Oklahoma, according to a news release. A group led by former University of Oklahoma and Dallas Cowboys Coach Barry Switzer has committed $6 million as the equity component for a Biodiesel plant to be constructed for purposes of serving the diesel fuel needs for the State of Oklahoma.
Iogen Wants Loan Guarentees for Idaho Plant
Iogen officials say they want to build a $300 million plant to make ethanol from barley straw in Idaho, but they are waiting on loan guarantees from the U.S. Department of Energy that would cover any losses investors might have if the project failed. The Ottawa Sun reports the company would like to start building in the fall of 2007. The plant and a straw assembly facility would employ up to 200 people. Iogen has already contracted with 320 farmers to provide 400,000 tonnes of barley straw a year. An announcement on the loan guarantees is expected in early October.
Another Ethanol IPO
Reuters reports that number two U.S. ethanol producer VeraSun Energy Corp. is planning to go public later this month. The IPO is the start of an ambitious campaign by the company to double its ethanol output to 560 million gallons a year by the first quarter of 2008, according a filing with the U.S. Securities and Exchange Commission.
Ethanol Night at the Races
Indy’s not the only race celebrating ethanol. Brown County Speedway opens for the season with Ethanol Night tonight. The racing season in Aberdeen, SD will run through Sept. 30. Aberdeen is the latest site chosen for an ethanol plant to be built by Glacial Lakes Energy.
We Want More
According to the Renewable Fuels Association, new data from the polling firm Public Opinion Strategies shows that 78 percent of Americans support increasing the use of ethanol and two-thirds of Americans support the increased use of biofuels in general. Additional results show that 91 percent of Americans feel the country is facing an energy crisis and 53 percent believe we should diversify our energy supply by utilizing alternative energy sources like ethanol.
Coconuts for Biodiesel
It may not be just for suntan lotion anymore. International Fuel Technology Inc. of St. Louis and CIIF Oil Mills Group of the Philippines, the world’s largest coconut producer, have begun a research and development program to expand the use of coconut oil in biofuels blended with diesel fuel. According to a company release, the administration of Philippine President Gloria Macapagal-Arroyo has set an Energy Independence Agenda aimed at attaining 60% energy self-sufficiency by year 2010, and has mandated the use of 1% coconut-biodiesel in all government diesel-fueled vehicles. Biofuels currently account for an insignificant percentage of the more than 7 billion liters of diesel fuel ($5 billion market) consumed annually in the Philippines.
Music Festivals Go Green
According to MTV news, some big name summer music festivals are making themselves more environmentally friendly by using biodiesel in fleets and generators.
For example, organizers of the Bonnaroo Music & Arts Festival in Manchester, Tennessee June 16-18 plan to use 25,000 gallons of cleaner-burning biodiesel fuel for all its non-music stage generators. The Warped Tour, whatever that is, plans to use only biodiesel fuel for the tour’s 18 buses, 14 production trucks and half its backstage generators, which they say will reduce carbon-monoxide emissions by an estimated 16 percent, or roughly 500,000 pounds.
Now that’s radical. But I still wouldn’t let my kids go.
Florida Legalizes E85
E85 is now legal in Florida. According to the National Ethanol Vehicle Coalition, the notice of the rule change making it legal to sell E85 in the Sunshine State was published in April. NEVC is gearing up to work with vendors to make the fuel available to Florida motorists.
Florida Ag Commissioner Charles Bronson has been a big promoter of bio-fuels this year, pushing his Farm-to-Fuel initiative during the state legislative session. Dr. Matthew D. Curran, Chief, Bureau of Petroleum Inspection with FDACS says Bronson is planning to hold a meeting of bio-fuels industry representatives in Orlando August 30 through September 1 which he hopes will “create an environment conducive for the sale and distribution of quality alternative fuel products in the State of Florida.”
Broin Plant News
The Broin Companies today announced plans for development and construction of Premier Ethanol, LLC near Portland, Indiana, as well as plans to build a second Pro-Corn Ethanol production facility in Minnesota.
The Indiana plant is a 120 million gallon per year (MGPY) project and the Minnesota facility will produce 60 million gallons of ethanol annually.
Here Ethanol’s Better
San Antonio, TX-based retailer H-E-B has announced that it will offer E-85 in five store locations from San Antonio to Waco by the end of summer. According to a company press release, the five sites are strategically located along IH-35, the nation’s main artery that runs from Mexico to Canada. H-E-B also selected the sites based on their proximity to major fleet operations including the Texas Department of Transportation (TxDOT) and the U.S Army’s Fort Hood. The stores are located in Shertz, Austin, Killeen, Buda and Waco.