08 June 2011 02:08 [Source: ICIS news]
HOUSTON (ICIS)--US biotechnology firm Elevance Renewable Sciences has acquired a biofuels facility in Mississippi with plans to convert it to a biorefinery and derivatives operation, the company said on Tuesday.
The conversion and multiple-phase expansion project at Natchez will cost $225m (€155m) and create 165 full-time jobs over the next five years, resulting in a “world-scale biorefinery and derivatives operation", the company said.
The Mississippi Development Authority provided a $25m loan for the project and other assistance, according to a statement by the office of Mississippi governor, Haley Barbour.
Elevance said it would use multiple types of oils as feedstock, including soy and canola.
"The expected capacity of the project will be disclosed once all of the detailed engineering work takes place," the company said.
Elevance said it uses olefin metathesis to create ingredients for use in personal care products, detergents, fuels, lubricants and other specialty chemicals markets.
($1 = €0.69)
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