Kreido Biofuels Expands Biodiesel Plant Plan

Kreido Biofuels, Inc. announced that the company has expanded its Wilmington, North Carolina plant site plan and development schedule in order to double the plant’s initial targeted biodiesel production capacity to 66 MMGY (million gallons per year).

The company believes it will now be positioned to meet a significant portion of its targeted 2008 year-end 100 MMGY capacity at its flagship Wilmington site.

Kreido Biofuels moved the target startup date of the Wilmington plant to the second quarter of 2008 from the first quarter of 2008. This shift will accommodate the doubling of the plant’s initial target capacity at a lower cost than if the expansion were done at a later date.

“We are making solid progress in developing Kreido’s flagship plant and chose to prepare for a rapid expansion of its capacity,” stated Ben Binninger, Chief Executive Officer of Kreido. “We have said Kreido can improve biodiesel production efficiency while requiring less equipment than conventional biodiesel processes. We believe that doubling the capacity of our Wilmington plant, which offers us deep water port access to feedstocks, will further enhance our production efficiency.”

The company also has successfully tested animal fat as a feedstock in its STT (spinning tube-in-tube) process intensification system pilot plant. The test, using pork fat, demonstrated that Kreido’s STT System is able to carry out a conversion of animal fat to methyl ester biodiesel.

As biofuel producers seek lower feedstock costs, animal fat is becoming more prevalent. Animal fat is now listed among the other feedstocks successfully tested in Kreido’s STT processors, including degummed soybean, refined palm, canola, jatropha, and castor oils.

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