ConocoPhillips, an international, integrated energy
company, and meat-processor Tyson Foods Inc., have announced their partnership
to produce biodiesel fuel using fat from cows, pigs and chickens.
Production is expected to begin late this year and output is expected to
reach 175 million gallons annually.
ConocoPhillips chief executive James Mulva said his company
expects to invest about US$100 million on the venture over 3-5 years. Initial
production will occur at its Texas plant. Mulva said that the company believes
the key to a secure energy future is the development of diverse energy
sources.
The finished product will likely be sold in many parts of the US, but the
companies didn't specify where.
The companies said the renewable fuel they will produce is different than
biodiesel. While the two fuels use similar feedstocks, such as animal fats and
vegetable oils, they each have different processing methods and create
chemically different products.
Tyson Foods said it believes that the venture eventually could
consume about half the animal fat it produces.
Tyson CEO Richard Bond said he doesn't believe that using animal fat to
produce fuel blends should have a major impact on food prices. He said that if
the overall price of fat were to increase, "it would potentially give us the
opportunity to pay a little more for livestock."
"We are firmly committed to leveraging our leadership position in the food
industry to identify and commercialise renewable energy opportunities," said
Bond.
Related links:
ConocoPhillips
Tyson Foods Inc.
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