Canadian biodiesel producer BIOX Corporation has obtained a $1.8-million line of credit from Farm Credit Canada for an upgrade of its recently acquired plant in Sombra.
BIOX acquired the Methes Energy facility June 17 for $4.5-million U.S and said it would spend $5-million over the next 12 months to improve efficiency and broaden the range of usable feedstock.
BIOX says it anticipates production will start in the second quarter of 2017.
The company already operates at 67-million-litre biodiesel plant in Hamilton and says the Sombra acquisition will increase its production capacity by 75%.