| | Technology to produce biofuel and biodiesel have advanced considerably in the last few years. The production of biofuel and biodiesel is a fast growing industry in the United States, and Alberta, as a province has been looking at this industry for some time. There are currently no commercial biodiesel production sites in the province, and there is significant opportunity for growth in the province.
Recently, the County of Newell's Department of Economic Development and Tourism completed a biodiesel production pre-feasibility study.
"The county is the first organization to produce a public study that outlines a wealth generating opportunity which specifically leverages the comparative advantages of our region," says Doug Erdman, economic development/tourism coordinator with the County of Newell. "This is a significant opportunity for county entrepreneurs. The return on equity could be as much as 43 per cent before taxes on a shareholder investment of less than $9,000,000."
The usual phases of business development comprise pre-feasibility study, feasibility study, business plan and finally the establishment of a viable business enterprise. The County of Newell hopes that the prefeasibility study will attract a group of committed investors to undertake the next phase of the development process.
"The County has a real competitive advantage as access to plentiful supplies of tallow and oilseed crops in the area exist," says Erdman. "In light of falling margins in primary agriculture production, a biofuel cluster development would certainly fit the bill as an opportunity for a primary ag investor group to become involved in a profitable value added enterprise."
A copy of the County of Newell's prefeasibility study can be viewed and downloaded from their website.
The County of Newell is also planning a one-day seminar in Brooks expanding on this opportunity. Speakers will include equipment manufacturers, producers already in the industry and financing agencies. Further information on this seminar will be posted on the County of Newell's website as plans are finalized.
The Canola Council of Canada and the Alberta Canola Producers Commission are hosting a Biodiesel: Powered by Canola conference in Calgary on July 17 and 18, 2006. For Albertans wishing to find out more about biodiesel production this will be another opportunity to listen to experts discuss this growing industry.
Contact:
Doug Erdman
(403) 362-3266
Matthew Machielse
Bioindustrial Technology Division
Alberta Agriculture, Food and Rural Development
(780) 679-5171 |
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