Biodiesel, for BNOCL, is for use in the planned six month pilot project to further study the impact of using Biodiesel in Barbados. This phase also calls for a gas station with B20 fuel pump, which is a blend of 20% biodiesel and 80% conventional diesel.
The MoU envisages that under the second phase, Amelot and BNOCL will jointly operate a biodiesel production facility that will utilize containerized modular equipment and proprietary feedstock technology.
The modular design and sustainability of the process is expected to produce biodiesel in such quantities as required to support BNOCL’s long term goal of replacing conventional diesel with 100% biodiesel.
Fred Guarnieri, president and CEO of Amelot Holdings, said: “The MoU demonstrates our continued long-term commitment to Barbados. We are looking forward to joining with a leading company there to meet the needs of retail and commercial fuels customers in that growing market.
“The joint venture would enable Amelot to set up a profitable bio-fuels business, with the potential to deploy next generation technologies. We have been looking for a partner with the resources and scaling capabilities to rapidly industrialize our biodiesel production in Barbados. We are delighted to have found this partner in BNOCL.”
