December 20, 2010

Minnesota Soybean Processors To Restart Biodiesel Production

Minnesota Soybean Processors has joined the list of companies that have said they would either restart or increase biodiesel production since the biodiesel tax credit passed.

When President Barack Obama signed the 2010 tax relief bill on Friday, making the biodiesel tax credit retroactive to Jan. 1 and extending it through the end of 2011, the phones began to ring at Minnesota Soybean Processors (MnSP).

Orders for the soy-based diesel fuel had slowed when the $1-per-gallon tax credit was allowed to expire on Dec. 31, 2009. In May, MnSP spokesperson Kim Collin said the Brewster plant had already cut back on biodiesel production. It was stopped entirely Nov. 23.

On Monday, Collin said there was enough biodiesel in storage to fill the orders MnSP has received in recent days. Production will begin again as soon as possible.

Source : Daily Globe

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