Ike hits GreenHunter with $22.4m in damage

29 September 2008 18:11  [Source: ICIS news]

HOUSTON (ICIS news)--US biodiesel producer GreenHunter Energy estimates that Hurricane Ike caused $22.4m (€15.2m) in damage to its refinery in Houston, the company said on Monday.

Most of the damage should be covered by the company's insurance policies, GreenHunter said.

Hurricane Ike created a storm surge that flooded GreenHunter's refinery, the company said. Water levels exceeded 12ft (4m) within the complex.

The surge destroyed all of the complex's office buildings and many of the complex's electrical panels, pumps and motors, GreenHunter said. However, the company's finished product likely escaped contamination.

GreenHunter should resume operations at the plant by 31 October, the company said. The refinery has a capacity of 105m gal/year (397m litres/year).

GreenHunter was one of the few companies to report any significant hurricane damage. Ike mainly affected companies by knocking out power and by disrupting ship and road traffic.

($1 = €0.68)

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By: Al Greenwood
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