JV acquires control of former Inland Empire Oilseeds plant
TransMessis Columbia Plateau LLC, a wholly owned subsidiary of TransMessis Renewable Energy Inc., announced that it had closed an approximately $6 million restructuring of the integrated canola crushing and biodiesel production operation in Odessa, Wash. This restructuring includes an operating agreement on the physical plant with the Odessa Public Development Authority, investment in working capital to allow an immediate restart of production, and additional investment to allow an approximately three-fold increase in the capacity of the plant.
It is anticipated that the Phase One restart will commence in December with a Phase Two expansion to be completed and operational by Feb. 1.
Damon Pistulka, the CEO of TransMessis Renewable Energy, said, “We are excited to be able to bring the facility back on-line and ultimately live up to the expectations of the community. This facility will be a source of 30-plus jobs, and markets for the local economy. This is a unique opportunity to start up a facility with a tremendous wealth of knowledge in place from day one.”
Once the planned expansion is completed, the Odessa facility will crush up to 300 tons of canola seed per day allowing for an annual production of up to 10 million gallons of biodiesel.
TransMessis Renewable Energy Inc. is a joint venture founded by Evergreen Renewable LLC and Access Global Investments LLC to develop a vertically integrated company focusing on the efficient and profitable conversion of canola seed into high-quality biodiesel, canola oil, and canola meal.