PENNINGTON GAP – December 11, 2007 – The Lee County Industrial Development Authority and the Virginia Coalfield Economic Development Authority announced today that Synergy Biofuels LLC, a start-up biodiesel fuel production company, will invest $1 million and open a facility in Lee County.
The company will create 30 jobs and becomes only the second facility in Virginia producing biodiesel fuel from sources such as recycled vegetable oil from restaurants.
Synergy Biofuels initially plans to produce three million gallons annual production of biodiesel from the former Super Sack building in the Lee County Industrial Park, located near the federal prison off Rt. 58 near Pennington Gap.
The Virginia Coalfield Economic Development Authority approved a loan in August for up to $800,000 to the Lee County IDA to help purchase equipment and a building to get the biodiesel project started.
"We are marketing our region as Virginia's e-Region, which represents electronic information technology, education and energy. This new alternative energy company is an innovative and exciting addition to the energy component of our business community," said Jonathan Belcher, VCEDA executive director.
Belcher said the new company describes biodiesel as an alternative fuel that can be used in pure form or blended with regular petroleum diesel for use in compression ignition (diesel) engines. Synergy is targeting more than 500 high-fuel consumption industries such as utility, farm, transportation, mining and government businesses as potential users of their products.