Canadian Green Fuels aims to be nation's largest biofuel producer
The plans underway involve upgrading an existing plant in Regina, as well as building a new plant. "We expect these plants to have the capacity to produce 240 million liters (63 MMgy) of biofuels a year and be considered 'green' plants, as all aspects of the plant and waste products are used to create revenue," said Mike Shenher, chief executive officer of CGF. The revenue from both plants could total approximately $300 million per year, he said.
A general information session held in McLean, Saskatchewan, on April 21 drew residents from McLean and the surrounding area to discuss opportunities and concerns that could stem from such a development. The meeting revealed a positive public sentiment, said CGF Chief Development Officer Troy Metz. "We were very surprised at the outpouring of support, and very humbled when [the public] formally welcomed us to their homes and to their community." McLean is 25 miles east of Regina.
The greenfield plant, which is expected to produce 200 MMly (52 MMgy), will be powered by the energy it creates, which includes biodiesel, bio-oil and biofuel additives. The facility will crush 1,200 metric tons of various oilseeds daily, including canola, flax, sunflowers and soybeans..
"Once we hit the ground, our model expects that we could begin building profitability within 90 days of starting the equipment," Metz said. "A plant this size would probably need in excess of 460,000 metric tons a year of oilseeds, and what makes us unique is our capability to crush any oil-yielding seed, not just canola."