Chevron Invests in New Texas Biodiesel Facility.
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 http://www.chevron.com
(EIN STAFF: 5/11)
|Printer friendly Cite/link Email Feedback|
|Publication:||Alternative Transportation Fuels Today|
|Date:||May 16, 2006|
|Previous Article:||Weekly Update.|
|Next Article:||GM, Meijer to Collaborate on Promotion of E85 in Indiana.|