Valero Energy Drops $3.5 Billion On Biodiesel From Jatropha

Oil Seeds1

Valero Energy, the largest American refiner, is placing more bets on renewable fuel, agreeing to a five-year deal with the Australian biofuel refiner Mission NewEnergy to obtain biodiesel made from jatropha.

From The New York Times Green Inc. blog: Mission will supply Valero with up to 60 million gallons of biodiesel per year, starting next year. Under the terms of the agreement, Valero can double that amount and extend the contract by an additional five years.

Jatropha is a family of oil seed plants that can grow on marginal soil without displacing land used for food supply. 

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