Grainnet

Houston, TX -- Nova Biosource Fuels, Inc. (BULLETIN BOARD: NVAO) announced Sept. 19 that it has signed a biodiesel sales agreement with ConAgra Trade Group, Inc. for Nova's 60 million gallon per year biodiesel facility to be located in Seneca, IL.

ConAgra Trade Group will provide selling and outbound logistics services for the facility as part of the agreement.

"We selected ConAgra Trade Group based on its experience and capabilities in commodity trading, marketing, logistics and risk management services that will support our biodiesel production efforts," said Kenneth Hern, Nova's Chairman and CEO.

The long-term agreement was executed through a subsidiary of Nova and will complement the feedstock supply agreement recently signed with Lipid Logistics, LLC, an affiliate of Kaluzny Brothers, Inc. Engineering and procurement for the Seneca facility has already been initiated by Nova with respect to long lead time items, such as stainless steel and other important process equipment.

Nova expects to have the biodiesel refinery completed in the summer of 2007.

For more information, call J.D. McGraw, Nova Biosource, at 713-869-6682 or Matt Kreps, Halliburton, at 972-458-8000.

See Related Websites/Articles:

• Nova Biosource

more GRAIN NEWS...