Joint venture into biodiesel production
Transpacific Industries Group (TPI) and Australian Renewable Fuels (ARF) have formed a 50/50 unincorporated joint venture to develop a biodiesel production facility in Brisbane, Queensland.
The facility will replicate ARF's Adelaide and Picton facilities and will be designed to produce 45 Mega litres of biodiesel every year.
The project is expected to be in production in the second half of 2007.
TPI will provide operational management to the project and ARF the development and technical management.
The project will use the Energea biodiesel technology, for which ARF has purchased the patent rights in the Australian region. TPI will provide up to 50% of the feedstock to the project through its existing used cooking oil collection business. Remaining feedstock requirements will be obtained in a manner consistent with ARF's strategy for its other biodiesel plants.
"Biodiesel is a natural extension to our business fitting neatly into our waste recycle and re-use mentality; both JV partners have the feedstock and the outlets and our JV partner brings the technology most suitable to us to value add to our existing cooking oil and tallow business and with the level at which fuel prices are, will provide a fabulous return on investment" TPI Executive Chairman Terry Peabody said.
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