Kentucky, United States [RenewableEnergyWorld.com] The UK subsidiary of Four Rivers BioEnergy Inc., called Four Rivers BioFuels Limited, has secured an agreement with BP Oil International Limited for the sale of a minimum of 60,000 Metric Tonnes of biodiesel per year from its UK facility for five years.
The contract term will begin when the UK facility reaches the minimum production amounts to fulfill the contract delivery requirements.
Four Rivers’ strategy is to ramp up the UK facility to meet the delivery requirements and to expand overall production capacity of biodiesel from the current 77,000 metric tons per year to 100,000 Metric Tons per year over the next seven months, and then to 200,000 metric tons per year within the next 36 months. This strategy includes development of the company’s own port and storage facilities at the nearby deep sea water port in Blyth.
Four Rivers is actively seeking financing for the working capital required to expand the UK facility and is negotiating with supply sources of the feedstock from which the biodiesel product will be manufactured. Both the financing and the feedstock procurement are pre-requisites for being able to deliver under the contract.