BIOX Corporation (BIOX) and World Energy, have announced the closing of the previously announced acquisition of a 90 million US gallon (USG) (341 million litre) biodiesel production facility in Houston, Texas. Through a 50/50 joint venture, each company has contributed US$10 million to the World Energy BIOX Biofuels joint venture.
The facility, formerly known as Green Earth Fuels, is located within the Kinder Morgan Liquids terminal on the Houston Ship Channel and is the third largest biodiesel production facility in North America.
Plant commissioning and startup will ramp up over the third quarter of the year (3Q16).
Adapted from press release by Francesca Brindle