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has entered into a sales agreement with to market and sell biodiesel fuel and manage logisticx for Nova at the biodiesel plant in Greenville, Miss. The owned by , can produce 20 millioh gallons ofbiodiesel annually. Nova has contractual rights toobtain 50% of the biodiesel and glycerin production from the Scott Petroleum will procure 50% of the refinery's feedstoc to produce biodiesel. Also, a wholly-owned subsidiary of ConAgra Foods, Inc., has agreer with Scott Petroleum to assist in procuring the additiona l feedstock requirements, primarily animal fats and wasterd products.
The refinery, located on the Mississippi River, was recently completed and is schedulexd to produce biodieselin September. "Nova has performedr well in the design and constructiob phases ofour refinery," Solon Scott Jr., president of Scott Petroleum, says in a "We're looking forward to commissioning Nova's proprietart technology to convert a variety of feedstockws produced in Mississippi into biodiesel for my customers." Nova previouslg designed and built a biodieselo refinery in Clinton, That facility, which can produce 10 million gallons of biodiesel is owned by Clinton County Bio Energy. It has producedr more than 4 million gallons of biodiese fromsoy oil.
Nova is also in the processz of commissioning a refineruyin Deforest, Wis., which could produces 20 million gallons of biodiesel a year. The owned by , has producedc more than 2 million gallons of biodiesel frommultiple feedstocks, such as corn oil extracted from dried distillers' greases with high free fatty acid content levela and various blends of animal fats. The refineru has processed feedstocks with combineed free fatty acid levels of upto 7%, whicu allows for the use of lower-cost feedstock s for the production of biofuels. Nova will also have a refineryin Ill. completed by the end of 2007. That facility will be able to producde 60 million gallons ofbiodiesel annually.
ConAgra Trade Groupl will market the fuel and manage logistics. "The Nova team of professionals are extremelyu passionate about ourproprietart technology, which is quickly being recognized as the biodiesekl industry leader," says Kenneth T. Hern, chairmann and CEO of Nova Biosource Fuels. "Our abilityh to leverage low-cost feedstock using a high-quality efficientf process with prearranged distributiobn resources positions us forexcellent growth." Silveradoi Green Fuel, Inc., a wholly-owned subsidiary of , is planninhg a $25 million fuel production facility at the Red Hillsw EcoPlex in Ackerton, Miss. The project's cost includews an initial investmentof $13.
1 millio in machinery and equipment. The plan t will be used to convert lignite, a low-rank into a liquid fuel that can be used inindustriap boilers. The process used to convert the lignitee is calledhypothermal treatment.
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