A company looking at Logansport for the development of a bio-fuel facility is exchanging information with city officials as it continues to consider the project.
Logansport City Council approved Mayor Ted Franklin's proposal of a forgivable loan to Philadelphia-based SG Preston totaling $550,000 in December 2014. The company is considering developing a $400 million facility that would produce more than 120 gallons of bio-diesel a year.
The fuel would be created from nonfood waste oils, including the kind resulting from ethanol production.
Representatives of SG Preston and a company it's partnering with visited Logansport Tuesday, March 31, to discuss the project further with city officials.
R. Delbert LeTang, founder, chairman and CEO of SG Preston, told officials the bio-fuel the company plans to produce will lead to compliance with future federal regulations requiring a decrease in greenhouse gas emissions.
But that's not the sole reason for the endeavor, he said, adding the bio-fuel is "superior" to petroleum-based diesel.
"That fuel just happens to be renewable," LeTang said.
The mandates will drive demand and the technology provided by Honeywell UOP will allow for it to be provided on a commercial scale, he continued.
International Alliance Group out of Houston, Texas, would provide project management services for the development.
A company looking at Logansport for the development of a bio-fuel facility is exchanging information with city officials as it continues to consider the project.
Logansport City Council approved Mayor Ted Franklin's proposal of a forgivable loan to Philadelphia-based SG Preston totaling $550,000 in December 2014. The company is considering developing a $400 million facility that would produce more than 120 gallons of bio-diesel a year.
The fuel would be created from nonfood waste oils, including the kind resulting from ethanol production.
Representatives of SG Preston and a company it's partnering with visited Logansport Tuesday, March 31, to discuss the project further with city officials.
R. Delbert LeTang, founder, chairman and CEO of SG Preston, told officials the bio-fuel the company plans to produce will lead to compliance with future federal regulations requiring a decrease in greenhouse gas emissions.
But that's not the sole reason for the endeavor, he said, adding the bio-fuel is "superior" to petroleum-based diesel.
"That fuel just happens to be renewable," LeTang said.
The mandates will drive demand and the technology provided by Honeywell UOP will allow for it to be provided on a commercial scale, he continued.
International Alliance Group out of Houston, Texas, would provide project management services for the development.