Syntroleum, Tyson partnership receives $100 million
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Dynamic Fuels LLC received final approval from the Louisiana State Bond Commission for $100 million in tax-exempt Gulf Opportunity Bonds to fund the building of a renewable diesel plant in Geismar, La. Dynamic Fuels is a joint venture formed between Tyson Foods Inc. and Syntroleum Corp. to convert low-grade inedible fats and greases into renewable synthetic diesel, jet and military fuel.
Jeff Bigger, senior vice president of business development for Syntroleum, thanked the bond commission for approving the maximum-allowable bond allocation. "Their timely action enables us to maintain our project schedule, creating new domestic fuel production capacity, high-quality operations and technical jobs, with initial production planned for early 2010," he said.
Dynamic Fuels will build a $150 million, 75 MMgy facility at a site in Geismer near two sources of hydrogen, a key ingredient in the production process. Syntroleum is providing its Bio-Synfining technology for the project. The process utilizes fats in the final reforming step of the company's Fischer-Tropsch technology to produce renewable diesel. The company's long-range plans include adding Syntroleum's Fischer-Tropsch technology to the front end of the production process in order to convert biomass into renewable synthetic fuels.
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