Illinois, United States [RenewableEnergyWorld.com] Blackhawk Biofuels, LLC announced it has completed the acquisition of assets of a 45-million-gallon-per-year biodiesel production facility under construction in Danville, Illinois from Biofuels Company of America, LLC. As part of the signed agreement, Renewable Energy Group, Inc. (REG) is providing financing in the form of a convertible loan to Blackhawk.
REG will manage operations and staff at the facility, procure feedstocks, and market the biodiesel through REG’s national distribution channels as part of a management, operations and services agreement with Blackhawk Biofuels. The facility is located adjacent to a soybean crush facility owned by Bunge North America. The facility was designed to exclusively use vegetable oils, however Blackhawk Biofuels is partnering with REG to upgrade the plant’s process technology to allow for multiple feedstocks to be utilized to produce high quality biodiesel.
“REG is proud to partner with Blackhawk Biofuels, LLC on the purchase and management of this facility,” said REG President Nile Ramsbottom. “The opportunity to add production capacity for high quality biodiesel from the Blackhawk facility to the REG network is significant. This is an excellent business and growth opportunity for REG, and through our investment, demonstrates our continued commitment to, and confidence in, the biodiesel industry.”