Glycerin
Glycerin is a byproduct of biodiesel production and is a versatile and valuable chemical substance. It has over 1,500 known end uses, including many applications as an ingredient or processing aid in cosmetics, toiletries, pharmaceuticals and food products. There are various grades of glycerin from crude glycerin used in animal feed to high grade U.S. Pharmaceutical (USP) glycerin. Biodiesel plants typically produce crude glycerin. The cost of refinement to USP grade glycerin is substantial and usually left to specialty chemical manufacturers.
Market prices for USP glycerin can be up to six times that of crude glycerin. Production of high grade US Glycerin is limited to only a handful of plants in the U.S. Cargill has opened two such plants as part of their biodiesel production plants. Currently, the majority of pharmaceutical glycerin is synthetically produced by Proctor and Gamble.
How Renew enhances shareholder value with glycerin
Biodiesel plants produce 1 gallon of crude glycerin for every 10 gallons of biodiesel produced. The sale of the glycerin byproduct supplements the revenue stream for biodiesel.
Now, instead of simply selling crude glycerin, Renew has identified a new process that produces high grade USP glycerin at a fraction of the cost of the current process technology. Renew believes new and retro-fitted biodiesel facilities can improve their performance by greater focus on glycerin manufacturing.
Renew will explore the opportunity to build a USP processing facility to further enhance the revenue of each biodiesel plant renew owns and operates.
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