May 29 2008
BioGold Fuels Corporation plans to implement organic chemical production as an added feature to add to its BioGold Bio-Refinery, a facility that will take all forms of waste for conversion to energy and fuels. A renewable fuels production company, BioGold today announced the formation of BioGold Organic Chemicals Division, a separate subsidiary that will focus on the creation of specialty organic chemicals made from processed municipal solid waste and other forms of waste. The division's initial focus will be on glacial acetic acid, an important component used in the production of plastics.
The Company plans to expand the new division's list of products to include bio-butanol and propanol -- alternatives to ethanol and gasoline.
BioGold Fuels will continue to focus on processing all forms of waste; however, with the rising cost and limited supply of fossil fuels, the Company feels it is inevitable that certain chemicals currently made from fossil fuels be produced with a cleaner, more cost effective, and environmentally friendly process.
"We don't see the demand for plastics diminishing, rather we foresee growing demand for green, organic-based components going into the production of plastics," said BioGold's CEO, Steve Racoosin. "With Dow(R) Chemical Co. recently announcing it will raise its prices on products June 1st as much as 20% due to increasing costs related to energy, feedstock, and transportation prices, this again shows the need for cost reduction in the plastics and chemicals industry."
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