Plans unveiled to build $400m renewable diesel plant in US

WCN Editorial Team 14 May 2020 NORTH AMERICA ENERGY & UTILITIES

St. Joseph Renewable Fuels is planning to build a renewable diesel plant in Southern Illinois, US, with an investment of $400m.

Being developed together with the City of Newton, Illinois, the new facility will be built on a 40-acre site within a federally designated opportunity zone.

The proposed plant is expected to bring new sources of renewable fuels to metropolitan, rural and underserved communities.

The facility will be equipped to consume waste fats and greases in Newton that would be otherwise be landfilled or emptied into sewer drains.

The plant will have the capacity to convert the waste into 90 million gallons of diesel and naphtha fuel annually as well as seven million gallons of technical grade glycerine.

The project is backed by financing from speciality finance firm Lance Capital and its New Zealand joint venture partner, Lance-Kamaka Capital.

The project partners include Cyberus Labs, which delivers the technology component of the healthcare platform, and a joint-venture between McDermott and Chevron Oil which will provide the core technology of the renewable fuels produced.

Lance Capital CEO Richard Podos said: “The St. Joe renewable diesel plant will drive economic growth in the city and county through $400 million of hard and soft construction costs, the revival of a shuttered site, and the production of ASTM-D975 renewable diesel.

“We will be advancing the project via tax incentives being offered by the city, and we also will be seeking state and federal support.”

The project is expected to create 100 permanent jobs in the Newton community, 200 construction jobs, and 300 trucking jobs for the State of Illinois once the plant enters service.

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The new renewable diesel plant is planned to be built in Southern Illinois, US. (Credit: Jürgen Rübig from Pixabay)

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