Earth Biofuels Inc. announced Thursday that it invested $5 million in the newly-formed Biodiesel Investment Group. That investment group is partnering with Bunge North America Inc to build Illinois’ largest biodiesel production plant in Danville, Illinois.
The plant, which will be located next to Bunge’s soy crushing and corn milling plants, will have a production capacity of 45 million gallons per year and is anticipated to be in production in the first quarter of 2008.
“We have been evaluating biodiesel opportunities and sites for about a year,” said Mark Burke, the Biodiesel Investment Group’s president. “The Danville site was attractive because of its ready availability of feedstock, the proximity of transportation capabilities, and the commitment to alternative fuels that the State of Illinois has demonstrated.”