Chevron invests in Texas biodiesel plant

| Tuesday, May 16, 2006

They do everything bigger in Texas. Even biodiesel.

Chevron Corp. is investing in a biodiesel plant in Galveston, TX. Work is scheduled to be finished by the end of the year, and the plant will have the potential to produce 100 million gallons of biodiesel a year. According to a Chevron press release, that’s more than double the current production volume of all biodiesel in the U.S.

The oil giant is investing through a subsidiary, Chevron Technology Ventures LLC, in Galveston Bay Biodiesel LP. Galveston Bay will produce biodiesel from soybeans and other feedstock and will sell it to marine, commercial, trucking and industrial markets in the Galveston and Houston areas.

According to the Chevron press release, initial production will be 20 million gallons per year, which company officials say that will mean an increase of approximately 27 percent in the total U.S. biodiesel production.

Comments