Renewable Diesel Project Developer GCEH Provides Preliminary Q2 Financials, Camelina Update

by Ron Kotrba (Biobased Diesel Daily) Global Clean Energy Holdings Inc., the project developer retrofitting a petroleum refinery in Bakersfield, California, into a renewable diesel plant scaled at 230 million gallons a year, provided preliminary financials for the second quarter as well as an update on camelina development by its subsidiary Sustainable Oils Inc.

According to GCEH, its wholly owned subsidiary Sustainable Oils has produced enough seed of its proprietary camelina varieties to plant more than 275,000 acres of camelina, the oil from which will be used for renewable diesel. It also announced that its SO-50 patented camelina seed variety was planted by more than 50 large farmers in Montana, Oregon, Washington, Idaho, Kansas and Colorado. In drought-stricken Montana, the acres are yielding a viable camelina crop where other crops, such as wheat, lentils and peas, failed to survive this year’s particularly hot and dry conditions.

“Our years of investment in improving the crop is now being witnessed firsthand by our growers in several states, and we believe this positions the company for significant expansion of camelina acreage over the next several years. Additionally, we expect to begin developing our midstream grain aggregation centers later this year, which will allow us to handle the expected increased volumes of grain in 2022 and beyond.”

GCEH still plans to complete its Bakersfield renewable diesel project early next year. READ MORE