Energy Department Backs Valero's Renewable Diesel Project

By San Antonio Business Journal

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 â¿¿ 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 Valeroâ¿¿s St. Charles oil refinery.

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Copyright 2011 American City Business Journals

http://www.bizjournals.com/sanantonio/news/2011/01/21/energy-department-backs-valeros.html?ana=thestreet

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