Dec. 12, 2018 – Benefuel Inc. recently responded to British Columbia’s publicized climate change plan that included an expanded ‘Low Carbon Fuel Standard,' by announcing that they have begun a site search and discussions with interested parties on a few specific locations for their next state-of-the-art biodiesel facility. This announcement has assisted Benefuel in prioritizing its expansion efforts, given that British Columbia has specific target volumes for biodiesel blending and carbon reductions, as well as enticing funding support.
“B.C.’s LCFS and climate change strategy have made B.C. a very attractive jurisdiction to locate and invest in a biodiesel facility,” said Rob Tripp, CEO of Benefuel. “Our company and our shareholders are committed to building a world class biodiesel facility in Canada in the most attractive jurisdiction.”
Benefuel will immediately begin the search for a suitable location in British Columbia to build a 150 million litre per year plant. Benefuel’s refining process is one of the most capital efficient refining solutions for carbon reduction in liquid transportation fuels. The fuel produced at this facility will have a negative carbon intensity score and is capital efficient. Every dollar of invested capital in Benefuel provides more than four times the greenhouse gas reduction compared to ethanol or hydro-treated renewable diesel and will displace any international competitors. The total project, which will produce roughly 150 million litres per year, will reduce greenhouse gas emissions by over 550,000 metric tonnes per year, which is equal to roughly 10 per cent of British Columbia’s 2030 target reduction for transportation as detailed in the CleanBC Report.