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A US Department of Energy study indicated that the manufacturing and usage of biodiesel, compared to oil diesel, resulted in a 78.5% reduction in co2 emissions. Moreover, biodiesel has a good power balance. For each and every unit of energy required to produce a gallon of biodiesel, 3.24 devices of energy are gained. Several federal agencies, like the Office of Safety (DoD), are selecting to make use of biodiesel or biodiesel blends.
There are several negatives to biodiesel value mentioning. Biodiesel is generally more costly to get than oil diesel but this differential may possibly reduce because of economies of range, the increasing cost of petroleum and government tax subsidies. Besides higher fees, biodiesel coagulates at winter, therefore vehicles must certanly be retrofitted with a fuel-heating system.
And although biodiesel vehicles are cleaner than typical diesel in many areas, they however release a comparable quantity of nitrogen oxide, one of the main components of smog. However, the majority are persuaded that the features of biodiesel far outnumber the disadvantages.
Environmentally-conscious a-listers such as for instance Willie Nelson, Jack Brown and Mandy Moore, may also be promoting and purchasing biodiesel. Willie Nelson even started his own biodiesel business, aptly entitled BioWillie.
Therefore how could you capitalize on the traction of biodiesel, produce a balanced return and support to save the environmental surroundings along the way? We've profiled among well known biodiesel plays below.
Nova Biosource Fuels, that was formerly Nova Power Holding, is an energy company that synthesizes and directs green fuel products. Nova's initial target is to create and operate several biodiesel refineries with manufacturing volume greater than 300 million gallons of fuel on an annual basis.
Within 36 months Nova plans to make, employing exclusive patented-process technology, seven biodiesel refineries ranging from 20- to 50-million gallons per year in manufacturing capacity. Nova has recently taken concrete steps toward the conclusion of these objectives:
Nova done a private position in September for around $18 million. These resources will undoubtedly be used to construct and run two to four biodiesel refineries with a creation volume of between 120 to 240 million gallons of biodiesel fuel per year. This media is quite positive because it shows institutions and large investors believe the organization to be always a stable investment.
But the major information propelling Nova's inventory value is a recently-inked cope with ConAgra. ConAgra is one of North America's biggest sold ingredients companies. In September, Nova signed a feedstock source and biodiesel sales agreements with ConAgra Business Group.
The agreements give that ConAgra Business Group will procure the plant fat and animal- based feedstock requirements for the Nova-owned biodiesel refinery, along with provide the biodiesel fuel and control the logistics for the facility. Creating on the partnership with ConAgra,
Nova recently signed a biodiesel income contract for Nova's 60 million gallon annually biodiesel center to be situated in Seneca, Illinois. ConAgra Industry Group will provide selling and outbound logistics services for the center within the agreement. Nova wants the Seneca refinery to be open in the summertime of 2007.
Operational Shows include the very first 10 million gallon per year biodiesel refinery being integrated Clinton County, Iowa approaching completion. That service is targeted for completion in the coming weeks.
The 2nd refinery has been built near Biofuel Consultants , Wisconsin, and the ability will be wholly held by Anamax Power Services. Nova's agreement with Anamax makes for the design and structure of a 20 million gallon annually biodiesel facility on the premises of an Anamax-owned rendering plant. The targeted completion time with this service is January 2007.
The third refinery will be created for Scott Oil Corp. and the contract offers up the look and structure of a 20 million gallon per year biodiesel refinery positioned in Greenville, Mississippi.
Nova already posseses an contract with Scott Petroleum to purchase 50 percent of this facility's creation for a decade at around the manufacturing charge in exchange for original and deferred payments designed to reimburse
Scott Oil for the step-by-step construction fees connected with raising the ability from 10 to 20 million gallons per year. The targeted completion day with this service is predicted to be in early 2007.
Nova has an amazing, patented biodiesel production engineering, manufactured by Nova Biosource Fules, which will be wholly-owned by Nova Energy Holding. This technology allows Nova to reduce running costs by up to 35% and overall gas production fees by as much as 20% from standard industry practices. That competitive gain benefits in decrease production prices, quicker ability permitting, and small environmental affect as a result of lack of air and water spend streams.