Itochu Corp. (8001), a Japanese trading company, and partners are investing in technology developed by Benefuel Inc. to produce biodiesel fuel from inedible feedstock.
The Tokyo-based company is part of a venture including Benefuel, Itochu Enex Co. (8133), and Flint Hills Resources Renewable LLC set up in Beatrice, Nebraska to produce 50 million gallons per year, Itochu said in a statement today. No financial terms were disclosed.
Itochu has been a strategic partner and investor in Benefuel, based in Irving, Texas, since 2011, the company said.
To contact the reporter on this story: Chisaki Watanabe in Tokyo at firstname.lastname@example.org
To contact the editor responsible for this story: Reed Landberg at email@example.com