Biodiesel plant may be leased out
DANVILLE, Ill. — A new group of investors is planning to take over the biodiesel production plant that was recently finished adjacent to Bunge’s milling operation in Danville.
Deb Seidel, director of communications for Bunge North America, based in Maryland Heights, said an asset purchase agreement is being worked out between Biofuels Company of America LLC and Blackhawk Biofuels, a group of about 600 investors, including farmers and businessmen.
If the deal closes, Seidel said, Bunge would lease the property where the biodiesel plant stands to Blackhawk and would supply feedstock, such as soybean oil, to the operation. Soybean oil is a byproduct of Bunge’s milling operation and can be used to make biodiesel, a non-petroleum-based diesel fuel made from vegetable oils and animal fats online payday advance. It can be used alone or as a blend in unmodified diesel engines.
Biofuels Company of America was a partnership between Bunge North America and Biodiesel Investment Group LLC, based in Memphis, Tenn. Bunge was a minority investor in that arrangement.
The News-Gazette (Champaign-Urbana, Ill.)