CR Fuels secures permits for Alberta biofuels project
June 17, 2008
BY Timothy Charles Holmseth
Web exclusive posted July 3, 2008 at 12:01 p.m. CST
Calgary, Alberta-based CR Fuels Inc. has announced it has obtained all of the key permits to proceed with the planned development of an integrated biofuels complex in Strathmore, Alberta.
The project has met the guidelines set forth in the Provincial Environmental Protection and Enhancement Act and is approved by the Alberta Energy Resources Conservation Board. It has received its Alberta Environment Water Division license, Municipal Development Permit, and an Alberta Infrastructure and Transportation Road Side Development Permit.
"Construction is scheduled to commence March 1, 2009," said Terry Allen, president of CR Fuels. "The project is scheduled to be fully operational and through the commissioning process by October 1, 2010."
The project in Strathmore will include a 30 MMgy biodiesel plant and a 25 MMgy ethanol plant, CR Fuels said in a media release. The facility will capture approximately 40,000 tons of carbon dioxide annually.
Gordon Hart, president and chief executive officer of CR Fuels said the company is pleased with these developments. "With all key permits in place and a sufficient supply of water, this is an exciting time for the company," he said. "Now that we are past this milestone we are looking to the next phase of engineering and to beginning construction in the first quarter of 2009."
Allen said investors are interested in well-structured renewable projects. He said several elements with the Strathmore project will make it a low cost producer with higher earnings, making it significantly less volatile than the majority of biofuels projects in North America. The project will sell wet distillers grains creating energy savings," Allen said. "[It will] capture and sequester CO2 for additional revenue and create carbon credits."
"Looking at the bigger picture, we expect that the Alberta government will announce provincial requirements for the use of renewable fuels that will be similar to the Canadian federal mandate," he said. "Federal legislation passed the House of Commons on May 28 and we believe the provincial renewable fuels mandate will be announced during this summer. This will create a consistent demand for CR Fuels' production. These key project attributes have proven appealing to investors in the renewable space."
The Strathmore project is expected to provide more than 70 permanent jobs when it's operational and will divert raw materials that will be exported towards value-added production, adding to province's overall economic activity," CR Fuels said.
Calgary, Alberta-based CR Fuels Inc. has announced it has obtained all of the key permits to proceed with the planned development of an integrated biofuels complex in Strathmore, Alberta.
The project has met the guidelines set forth in the Provincial Environmental Protection and Enhancement Act and is approved by the Alberta Energy Resources Conservation Board. It has received its Alberta Environment Water Division license, Municipal Development Permit, and an Alberta Infrastructure and Transportation Road Side Development Permit.
"Construction is scheduled to commence March 1, 2009," said Terry Allen, president of CR Fuels. "The project is scheduled to be fully operational and through the commissioning process by October 1, 2010."
The project in Strathmore will include a 30 MMgy biodiesel plant and a 25 MMgy ethanol plant, CR Fuels said in a media release. The facility will capture approximately 40,000 tons of carbon dioxide annually.
Gordon Hart, president and chief executive officer of CR Fuels said the company is pleased with these developments. "With all key permits in place and a sufficient supply of water, this is an exciting time for the company," he said. "Now that we are past this milestone we are looking to the next phase of engineering and to beginning construction in the first quarter of 2009."
Allen said investors are interested in well-structured renewable projects. He said several elements with the Strathmore project will make it a low cost producer with higher earnings, making it significantly less volatile than the majority of biofuels projects in North America. The project will sell wet distillers grains creating energy savings," Allen said. "[It will] capture and sequester CO2 for additional revenue and create carbon credits."
"Looking at the bigger picture, we expect that the Alberta government will announce provincial requirements for the use of renewable fuels that will be similar to the Canadian federal mandate," he said. "Federal legislation passed the House of Commons on May 28 and we believe the provincial renewable fuels mandate will be announced during this summer. This will create a consistent demand for CR Fuels' production. These key project attributes have proven appealing to investors in the renewable space."
The Strathmore project is expected to provide more than 70 permanent jobs when it's operational and will divert raw materials that will be exported towards value-added production, adding to province's overall economic activity," CR Fuels said.
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