Technology firm Elevance Renewable Sciences Inc. has acquired a biofuels refinery in Natchez, Miss., that will be converted to make raw materials for bioplastics and other products.
In a June 7 news release, officials with Bolingbrook, Ill.-based Elevance said the firm will spend $225 million over five years on the project, which is expected to create 165 full-time jobs and another 300 temporary construction jobs.
Elevance is buying the 800,000-square-foot plant from Delta BioFuels Inc. of Natchez, which had used the facility to make fuels based on soybean oil and other feedstocks. Elevance officials said the site will be used to make renewable specialty chemicals based on natural oils.
“We plan on deploying Elevance's innovative technology here to bring competitive manufacturing and high-value jobs back to the United States,” said Elevance CEO K'Lynne Johnson.
In plastics, Elevance materials — made via olefin metathesis technology — can be used in specialty nylons as well as in polyols, polyester, epoxies and polyurethane.
Last month, the firm completed a 1 million-pound run of its materials. It also is building a biorefinery in Indonesia through a joint venture with Singapore agricultural firm Wilmar International Ltd. That plant, with capacity of almost 400 million pounds, is set to open by year's end.