Tyson and Syntroleum form US synthetic fuels JV

25 June 2007 16:55  [Source: ICIS news]

HOUSTON (ICIS news)--Food company Tyson Foods and Syntroleum said on Monday they are forming a joint venture (JV) that will produce synthetic fuel.

The venture, called Dynamic Fuels, will build and operate several fuel plants using technology developed by Syntroleum, the companies said. Tyson will supply the feedstock, made up mostly of animal fats, greases and vegetable oils.

Operating profits should be $35m-60m (€26m-44m), the companies said.

The first plant will be in south-central US and have a capacity of about 75m gal (284m litres), the companies said. Construction should start in 2008, and production should start in 2010.

The plant will cost $150m and create 65 jobs, the companies said.

The venture plans to sell the fuel to the US military and other customers, the companies said. The fuel can be used unblended or combined with biodiesel or petroleum-based diesel. It can also be upgraded to be used as jet fuel.

($1 = €0.74)

By: Al Greenwood
+1 713 525 2653

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