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Chevron Invests in New Texas Biodiesel Facility.

Chevron Corporation recently announced its investment in a new biodiesel plant that the company said has the potential to more than double the current production volume of the alternative fuel in the U.S.

Through its subsidiary Chevron Technology Ventures LLC (CTV), Chevron has purchased a 22-percent interest in Galveston Bay Biodiesel LP (GBB). By the end of 2006, GBB will produce biodiesel from soybeans and other renewable feedstocks at the company's new facility in Galveston, TX.

GBB will initially produce 20 million gallons per year -- a 27-percent increase in total U.S. biodiesel production of 75 million gallons in 2005. Chevron noted that the facility is capable of expanding operations to produce 100 million gallons per year.

GBB has the option to sell pure biodiesel or biodiesel blended with off-road or on-road diesel into marine, commercial, trucking and industrial markets in the Galveston and Houston metro areas.

Other investors in the project include Contango Capital Biofuels Partners LP, Galveston Bay Biodiesel Management LLC, Sultex LLC, Mobius Risk Group LLC, and Beaver Creek Fund, Ltd.

Contact: Chevron, website

(EIN STAFF: 5/11)
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Publication:Alternative Transportation Fuels Today
Date:May 16, 2006
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