Darling International (DAR) Announces Renewable Diesel Project With Valero Energy (VLO)
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Darling International Inc. (NYSE: DAR) reported that it has joined with a subsidiary of Valero Energy Corporation to take initial steps towards the formation of a joint venture to build a facility capable of producing over 10,000 barrels/day or 135 million gallons per year of renewable diesel on a site adjacent to Valero's St. Charles refinery near Norco, Louisiana.
It is contemplated that the proposed facility would principally convert waste grease -- primarily animal fats and used cooking oil supplied by Darling -- and potentially other feedstocks that become economically and commercially viable into renewable diesel.
Darling and Valero will jointly seek a loan guarantee for the proposed joint venture from the U.S. Department of Energy under the Energy Policy Act of 2005, which makes $8.5 billion of debt financing guarantees available for projects that employ innovative energy efficiency, renewable energy and advanced transmission and distribution technologies.
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