Canadian Bioenergy Sets Goal to Have First Biodiesel Plant Online in 2011

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Researched by Industrial Info Resources (Sugar Land, Texas)--Privately held Canadian Bioenergy Corporation (North Vancouver, British Columbia) has set a goal of having the first of two biodiesel plants that are under development online by the end of the first quarter of 2011.

The company plans to break ground on the first plant, located near Archer Daniel Midland Company's (NYSE:ADM) (Decatur, Illinois) canola-crushing plant in Lloydminster, Alberta, and will process canola oil produced at the plant into 70 million gallons per year of certified BQ-9000 biodiesel.

If the company can obtain funding for the project, construction is expected to start late winter 2009 or spring of 2010 and be operating by March of 2011. The process technology for both plants will be provided by Renewable Energy Group Incorporated (Ames, Iowa).

The second plant the company is developing will be located adjacent to Bunge Limited's (NYSE:BG) (Saint Louis, Missouri) plant in Fort Saskatchewan, Alberta, and will process canola oil from the plant into 60 million gallons per year of biodiesel. Canadian Bioenergy is hoping to start construction of this plant in the summer of 2010 and have the plant online in the fall of 2011.

Both projects are expected to cost about $79 million each to construct.

Industrial Info's Ethanol Database provides a comprehensive outline of all current development activities in the emerging alternative fuels market. This database covers 192 ethanol plants in operation and 530 plants under development. It also covers 141 operational biodiesel plants and 245 biodiesel plants under development.

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