Nova Gains Rights to Half of Biodiesel from 20 mgy Facility

Nova Biosource Fuels, Inc. has completed a biodiesel tolling and off-take agreement with Scott Petroleum, Inc. for rights to 50 percent of the biodiesel and glycerin production at Scott Petroleum’s 20 million gallon per year refinery, which is currently under construction by a subsidiary of Nova in Greenville, Mississippi.

Construction of the facility began in July 2006 and the project is scheduled to be producing biodiesel in the summer of 2007. The refinery will be supplied with catfish oil, poultry fat and other rendered products from the Delta region as feedstock for the production of biodiesel and glycerin. Solon Scott, President of Scott Petroleum, said, “Nova’s ability to utilize multiple feedstocks, produced right here in the Delta, and its ability to generate outstanding fuel quality gave us the confidence to invest and become a producer in the emerging biodiesel industry.” “Our relationship with Solon and Scott Petroleum has continued to evolve largely in part because of Solon’s vision to vertically integrate from the farm to fuel,” said Kenneth T. Hern, Nova’s Chairman and Chief Executive Officer. “We are very pleased to see that the continued benefits of our long-term alliance with Scott Petroleum will produce biodiesel utilizing our proprietary technology while granting us 50 percent of all production from the plant.”
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