Renew Energy Subsidiary Finds Feedstock Supplier for Biodiesel Plant
TAMPA, FL --- Renew Energy Resources Inc. announced that its subsidiary, Legacy Oil Florida, has executed a long-term feedstock supply agreement with EnerSight Fuels Inc.
EnerSight will provide recycled waste vegetable oil. The agreement allows Renew to start developing a 2.5-million-gallon-per-year biodiesel plant. Renew has already selected a location and will begin final due diligence on process technology.
Renew and EnerSight expect to launch operations in the second quarter of 2009.
Alex H. Edwards III, Renew Energy Resources CEO, stated: "As was the case with Legacy Oil New York, a key component in successfully building a vertically integrated biodiesel facility is a good feedstock partner. We believe that EnerSight can be that partner and we look forward to working closely with their team to move Legacy Oil Florida ahead very aggressively."