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Vega Biofuels explores options to increase Bio-Coal production vapacity to Mmzeet

Coal News - Published on Thu, 27 Nov 2014

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VEGA BIOFUELS, INC announced that the Company is exploring options to increase production capacity of its Bio-Coal product to meet current demand.

Vega recently announced it has entered into a JV to build and operate a manufacturing plant in Allandale, SC to produce a product called Bio-Coal. When completed, the manufacturing plant will use special torrefaction technology to produce the Company's green-energy Bio-Coal product from timber waste that will then be sold to power companies around the world. Bio-Coal has a high energy density of up to 13,000 BTUs/Lb and is considered a renewable energy fuel that meets the Renewable Portfolio Standards and Renewable Energy Credits (RECs) in the United States.

The current production capacity for the Company's JV in Allendale is not sufficient to meet the current demand for Vega's Bio-Coal. Therefore, representatives of Vega are currently in discussions with Colorado based Vencor International, Inc concerning Vencor's ability to provide Vega a torrefied product that meets the specifications of the Company's Bio-Coal product. Vencor is currently testing its product pursuant to strict specification requirements provided by Vega.

Mr Michael K Molen chairman & CEO of Vega Biofuels, Inc said that "It's no secret, our current production capacity is not enough to meet the demand for our Bio-Coal product."

Mr Molen said that "In time I believe the production capacity at the Allendale plant will be increased and catch up to the demand, but we have orders now that have to be produced, so we are exploring other options to meet this demand. I have gotten to know new Vencor CEO, Mr James Gaspard through our biochar business and he believes that they can provide us with a torrefied product that will meet the strict specifications for Bio-Coal. We have asked Vencor to provide us with certain test results of their product and we expect those results before the end of the month. If the product meets our specifications, we will place an order with Vencor that would give us the ability to start shipping product by the first of the year. Our goal is to supplement Allendale's production capacity, not replace it."

Source - Strategic Research Institute, Steel Guru

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Posted By : admin on Thu, 27 Nov 2014
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