New BioDiesel Plant Opening in August 07
GREENLIGHT BIOFUELS BREAKS GROUND ON BIODIESEL FACILITY
IN PRINCESS ANNE, MARYLAND
January 26, 2007
Charlottesville, VA – Greenlight Biofuels, Inc. has broken ground today on a 4.0 million gallon per year multi-feedstock biodiesel facility in Princess Anne, Maryland. This follows upon Greenlight’s recent purchase of a controlling interest in Baltimore Biodiesel, LLC, the developer of the project.
Greenlight President Allen Cunningham remarked, “We are excited to be a part of an industry that contributes to environmental progress, national energy independence and local economic growth. This project is the first step in a broader strategy for Greenlight Biofuels.”
Greenlight Vice President Erik Lytikainen added, “This is an important day for Greenlight and the town of Princess Anne. Thanks to the help of community leaders, and together with first-class local partners, a new facility to produce renewable fuels will be coming online this year. This facility will bring new jobs to a high unemployment area, and will help support the agricultural community of the Eastern Shore.”
Greenlight Biofuels, Inc. was founded by Greenlight Capital Management, Inc. to develop, build, own & operate biofuel facilities in North America.
Greenlight Capital Management, Inc was formed by the principals of Greenlight Energy, Inc (GEI) following the $100 million sale of their wind energy company to BP Alternative Energy North America, Inc. At the time of the sale in 2006, GEI was one of the largest independent wind energy companies in the country with a 6,000 MW development pipeline comprised of large-scale wind energy projects in 15 states. By year-end 2007, over $700 million of wind energy facilities developed by GEI will be operational, including a $500 million facility in Colorado being completed this year by BP.
With an experienced management team and a strong track record in the renewable energy industry, Greenlight Biofuels is well-positioned to participate in the growth of the biofuels industry.
