DOE backs Valero’s renewable diesel project
The U.S. Department of Energy has approved a $241 million loan guarantee to Diamond Green Diesel LLC, a joint venture of Valero Energy Corp. and Darling International Inc., to build a 137-million-gallon-per-year renewable diesel facility in the New Orleans area.
San Antonio-based Valero (NYSE: VLO) will design, construct and operate the facility and market the diesel. Darling will supply old animal fat, used cooking oil and other forms of grease to the facility — which will serve as a feedstock. Diamond Green Diesel plans to hire 700 employees to work at the plant. The plant will be located next to Valero’s St. Charles oil refinery.
From the San Antonio Business Journal.
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