US GreenHunter plant hits 50% biodiesel capacity

25 August 2008 15:55  [Source: ICIS news]

HOUSTON (ICIS news)--GreenHunter Biofuels, the largest US biodiesel refiner, has reached 50% of its 105m gal (397m litres)/year nameplate capacity since opening in June, the company said on Monday.

The Texas-based company said its plant has mostly used animal fat as its biodiesel feedstock, adding the move should provide it with “meaningful” net operating margins despite high prices for alternative feedstock soybean oil.

“By designing a refinery that has the ability to take a multitude of different feedstock, GreenHunter has the ability to source and procure the least expensive raw materials possible around the world. This allows our company to achieve the greatest possible operating margins within the business today,” said Bruce Baughman, senior vice president of engineering.

GreenHunter is currently in the process of selling its first 4,000 tonne parcel of B100 with anticipated ultimate delivery into international markets, the company said.

The company’s stock rose to $16.04 (€10.91)/share on the American Stock Exchange on Monday, compared with $15.70 per share at market close on Friday.

($1 = €0.68)

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By: Ben Lefebvre
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