Using soybean oil as its primary feedstock, the facility, which opened in 2008, produces 40 million gallons of biodiesel and 30 million pounds of food-grade glycerin annually. The expansion is expected to be complete by March 2013.
"Our partnership with Paseo has gone very well over last four years. Together, we have built an excellent operation that serves many of the major petroleum retailers in the U.S.," said Cargill Grain and Oilseed Supply Chain North America Business Unit Leader Mark Stonacek.
Paseo started out of an effort in 2006 with an equity drive in which more than 650 agricultural producers in Missouri purchased shares in Paseo Biofuels, LLC, which formed a joint venture with Cargill to help make the facility a reality. It is located near the Paseo Bridge in Kansas City.
"The business model has been ideal. Co-locating the biodiesel plant next to a soybean crushing facility reduces cost, saves time and money while working with three great partners," said Dale R. Ludwig, executive director/chief executive officer, Missouri Soybean Association.
"I am pleased to see Missouri businesses and our agricultural producers coming together to make a significant capital investment to create new opportunities in the Show-Me State," Missouri Governor Jay Nixon said. "This is a partnership that is growing by expanding markets for our farmers and farm families and making renewable, North American energy more accessible. We are glad to have them grow in Missouri."
