TexCom Breaks Ground on 35 MGPY Biodiesel Plant in Seabrook, TX
Houston, TX -- TexCom, Inc. (OTC Pinksheets: TEXC) held a groundbreaking ceremony on December 21 for its Houston Biodiesel, LLC plant at the LBC Houston, LP terminal site in Seabrook, TX.
"This terminal is ideally suited as our initial plant location. The site affords us the capability to bring in our raw materials such as soybean and other vegetable oils by vessel, barge or rail, " said Lou Ross, CEO of Texcom.
"The plant will benefit from the fact the Houston Ship Channel is one of the nation's leading ports in terms of the volumes of agricultural commodities that it carries."
The facility will store petroleum diesel and be equipped to provide fuel distributors with biodiesel/petroleum diesel blends such as B2, B5 and B20 as well as pure biodiesel.
The plant is expected to be online in December 2007 producing 35 million gallons of B100 biodiesel annually.
TexCom and its equity partner, US Renewables Group, previously announced execution of the engineering and construction contract for the Houston Biodiesel facility with Lurgi, Inc. of Memphis, TN and completion of project financing with Stearns Bank of St. Cloud MN.
Houston Biodiesel has entered into agreements with the Lansing Trading Group of Overland Park, MO for raw materials sourcing, risk management and hedging activities, as well as for off-take of biodiesel product.
"Today is the result of a focused commitment that we made in 2004 to enter biodiesel production," said Ross.
"Through this facility and additional expansion in the future, we plan to become a material factor in the domestic biodiesel industry. We are creating jobs, reducing our nation's dependence on fossil fuels, and producing a cleaner, more environmentally friendly fuel here."
Ross said, "Biodiesel is recognized as a critical part of the long-term energy solution for America. A strong period of growth is ahead for those companies that have shown the foresight to enter the space and the capability to capitalize on the increasing demand for cleaner energy."
For more information, call Bill Pettinatti at 713-914-9193. See Related Websites/Articles:
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