https://www.benefuel.net/press-releases/bc-2018-12-11.php
Benefuel Looking to British Columbia for New Biodiesel Facility
December 11, 2018
NEWS RELEASE
Ottawa, Ontario - Today, Benefuel Inc. responded to British Columbia’s
recently publicized climate change plan that included an expanded ‘Low
Carbon Fuel Standard by announcing that they have begun a site search
and discussions with interested parties on a few specific locations for
their next state of the art biodiesel facility. This announcement has
assisted Benefuel in prioritizing our expansion efforts, given that
British Columbia has specific target volumes for biodiesel blending and
carbon reductions as well as enticing funding support.
“B.C.’s LCFS and climate change strategy have made B.C. a very
attractive jurisdiction to locate and invest in a biodiesel facility,”
said Rob Tripp, CEO of Benefuel. “Our company and our shareholders are
committed to building a world class biodiesel facility in Canada in the
most attractive jurisdiction,” added Tripp.
Benefuel will immediately begin the search for a suitable location in
British Columbia to build a 150 million litre per year plant. Benefuel's
refining process is one of the most capital efficient refining solutions
for carbon reduction in liquid transportation fuels. The fuel produced
at this facility will have a negative carbon intensity score and is
capital efficient. Every dollar of invested capital in Benefuel provides
more than four times the Green House Gas reduction compared to ethanol
or Hydro-treated Renewable Diesel and will displace any international
competitors. The total project, which will produce roughly 150 million
litres per year, will reduce Green House Gas emissions by over 550,000
metric tonnes per year, which is equal to roughly 10% of British
Columbia’s 2030 target reduction for transportation as detailed in the
CleanBC Report.
About Benefuel:
Benefuel is an alternative energy company focused on producing fuels,
lubricants and chemicals derived from non-food related fats and oils and
committed to the principles and practices of sustainability. Benefuel
shareholders include both Suncor and Koch Industries who are supporting
Benefuel’s efforts to build a world-class biodiesel facility in Canada.
Inquiries: Benefuel Inc.
Rob Tripp
Chief Executive Officer
(972) 764-4500
Email: rtripp@xxxxxxxxxxxx
URL: http://www.benefuel.net/
