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Itochu, Partners to Make Non-Food Biodiesel Fuel in Nebraska

May 23 (Bloomberg) -- Itochu Corp., 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., 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 cwatanabe5@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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