The biodiesel produced will be sold to trucking companies, municipal fleets and to GSF to fuel its distribution fleet.
Renewable Energy Group Buys IL Plant
Blackhawk Biofuels, LLC announced its acquisition of assets of a 45-million-gallon/year biodiesel production facility under construction in Danville, IL from Biofuels Company of America, LLC.
As part of the signed agreement, Renewable Energy Group, Inc. is providing financing in the form of a convertible loan to Blackhawk.
Renewable Energy Group, Inc. will manage operations and staff at the Danville facility, procure feedstocks and market the biodiesel through REG’s national distribution channels as part of a management, operations and services agreement with Blackhawk Biofuels.
The facility was designed to exclusively use vegetable oils; however, Blackhawk Biofuels is partnering with Renewable Energy Group, Inc. to upgrade the plant’s process technology to allow for multiple feedstocks to be utilized to produce high-quality biodiesel.