Canadian oil companies require 1 billion litres of biodiesel to meet federal mandates. There is presently only 15% of this available.
Vegreville Energy, a wholly owned subsidiary of BioStreet, will be designed and built to produce 237 million litres of canola‐based biodiesel, with the plant fully operational in 2014. The total project budget is $237 million. BioStreet is well positioned to meet the growing Canadian demand for a government mandated market currently worth nearly $1 billion.