May 18
Bioversel announces strategic partnership agreement for biodiesel production with Methes Energies, Canada.Bioversel, Inc., a leading producer and distributor of biodiesel and biodiesel fuel blends in Canada, continues to grow biodiesel production capacity and market share in Canada through its network of production partners. Methes Energies operates a 5 million liter/yr biodiesel production facility in Mississauga, Ontario and a 25 million liter/yr facility in Sombra, Ontario. Under the agreement, Methes will process various feedstocks supplied by Bioversel to produce quality FAME biodiesel. The two companies are planning to increase annual production at the Sombra facility to 50 million + liters over the coming months in order to meet growing demand.
Sombra, Ontario biodiesel production facility
Under the Canadian government ecoENERGY program for Biofuels will provide up to $1.5 billion in incentives over nine years to producers of renewable fuels including ethanol and biodiesel. The money will go directly to companies that produce biofuels. The manufacturers can receive up to 20 cents per liter of biodiesel.
Last year in Canada, a Renewable Fuel Standard (RFS) was passed into law requiring that all gasoline sold in Canada contain an average of 5% renewable content, and 2% renewable content in diesel. Similar standards have been passed by a number of provinces, including Alberta and British Columbia in just the past few months alone.