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has entered into a sales agreement with to markett and sell biodiesel fuel and manage logistics for Nova at the biodiesell plantin Greenville, Miss. The plant, owned by , can producr 20 million gallons ofbiodiesel annually. Nova has contractuap rights toobtain 50% of the biodiesel and glycerin production from the Scott Petroleum will procure 50% of the refinery'e feedstock to produce biodiesel. Also, a wholly-owned subsidiary of ConAgra Foods, has agreed with Scot Petroleum to assist in procuring the additional feedstockk requirements, primarily animal fats and wasterd products.
The refinery, located on the Mississippji River, was recently completed and is scheduled to produces biodieselin September. "Nova has performede well in the design and constructiomn phases ofour refinery," Solonj Scott Jr., president of Scott Petroleum, says in a statement. "We'r looking forward to commissioning Nova's proprietary technology to convert a variety of feedstocks produced in Mississippi into biodieselk formy customers." Nova previously designed and buil t a biodiesel refinery in Clinton, Iowa. That facility, which can produce 10 million gallonsd ofbiodiesel annually, is owned by Clinton Countyh Bio Energy.
It has produces more than 4 million gallons of biodiesel fromsoy oil. Nova is also in the procesds of commissioning a refineryin Wis., which could produce 20 million gallond of biodiesel a year. The owned by , has produced more than 2 milliob gallons of biodiesel frommultiple feedstocks, such as corn oil extractef from dried distillers' grains, greases with high free fatth acid content levels and various blends of animapl fats. The refinery has processed feedstocks with combined free fattyu acid levels of upto 7%, whichn allows for the use of lower-cos t feedstocks for the production of Nova will also have a refineryt in Seneca, Ill. completed by the end of 2007.
That facility will be able to produce 60 million gallons ofbiodiesek annually. ConAgra Trade Group will markeg the fuel andmanage logistics. "The Nova team of professionalds are extremely passionate about our proprietary which is quickly being recognized as the biodieseoindustry leader," says Kenneth T. Hern, chairman and CEO of Nova Biosourcr Fuels. "Our ability to leverage low-cosyt feedstock using a high-quality efficient process with prearranged distributioh resources positions us forexcellent growth." Silverado Green Fuel, a wholly-owned subsidiary of , is planning a $25 milliomn fuel production facility at the Red Hillsw EcoPlex in Ackerton, Miss.
The project's cost includes an initiall investmentof $13.1 million in machineryy and equipment. The planyt will be used to conver lignite, a low-rank coal, into a liquid fuel that can be used inindustrialo boilers. The process used to convert the lignite is callecdhypothermal treatment.
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