The Continental Refining Co. (CRC) is moving forward with plans to invest an additional $20 million to acquire and install a soybean crushing, biodiesel refining and blending facility at the current CRC oil refinery in Somerset, KY.
CRC has completed its evaluation of the project feasibility and is currently making progress with detailed design, equipment procurement, permitting, and construction of a soybean processing facility, biodiesel plant, and a fuels terminal.
The ability to produce biofuels and soy-based products in Somerset will open new markets while providing farmers, CRC’s customers, vendors, investors and the community a solid agritech business opportunity that provides a positive economic impact for the entire region.
CRC products will include: soy meal, soy oil, soy hulls, B100, crude glycerin, biodiesel, gasoline, and other products.
The facility would be capable of processing 3 million bushels of soybeans and producing 5 million gallons of B100 annually.
CRC’s transformational concept has been well received by the local, regional, and state community as well as suppliers of raw materials and customers of the CRC products. CRC has garnered the support of Pulaski, Wayne and Adair County Agriculture Development Councils.
Hemisphere Ltd. CEO Demetrios Haseotes purchased the refinery in 2011, investing over $60 million updating and improving the facility’s crude oil refining capabilities. Haseotes will now shift his focus to soybeans as the future of diesel energy production and additives at his Continental refinery.
“The Southcentral and Southeastern regions of Kentucky have industries and institutions that rely on diesel fuels, and because Kentucky is a leader in the nation for soybean production, the region also has the raw materials and technology to make biodiesel at a scale that reflects the local and regional demand.” Haseotes says.
“We have consulted with local, progressive soybean producers, taken their input and they are very encouraged about the project. We look forward to investing in the future of energy production that actually creates beneficial biproducts we can in turn sell, like high-protein fiber meal for poultry and livestock.”
The conversion of Continental’s Somerset facility is already well under way. CRC has initiated the permitting process with the Kentucky Division of Environmental Protection (KDEP). The biodiesel plant has been procured and engineering services are currently being performed to develop the plans necessary for installation.
It’s anticipated startup is in the fourth quarter of 2021, along with a new fuels terminal that is currently being designed with equipment procurement and installation to follow.
The soybean processing equipment is deep into its design phase with equipment procurement and installation soon to follow and anticipated startup in the first quarter of 2022. Haseotes expects to receive and begin processing soybeans by January 2022.
