Chevron Corp, San Ramon CA, has invested through a subsidiary in a Texas-based company that is building a biodiesel plant in Galveston TX expected to be online by the end of 2006.
The facility will have the potential to produce 100-million gallons per year of biodiesel, an amount Chevron said would more than double the current production volume of biodiesel in the United States.
Chevron, through its subsidiary, Chevron Technology Ventures LLC, has taken an equity position in Galveston Bay Biodiesel LP.
The Houston TX-based company will produce biodiesel from soybeans and other renewable feedstocks, and has the option to sell pure biodiesel or biodiesel blended with off-road or on-road diesel into marine, commercial, trucking, and industrial markets in the Galveston and Houston metropolitan areas.