SYNM Louisiana site gains fat-to-fuel venture [The Oklahoman]

Louisiana site gains fat-to-fuel venture [The Oklahoman]Knight Ridder/Tribune "Business News "
Nov. 16--Tulsa's struggling Syntroleum Corp. and chicken processor Tyson Foods Inc. have chosen a Louisiana refinery for their plan to turn chicken fat into fuel.
The companies' 50-50 joint venture, Dynamic Fuels LLC, will spend $135 million in Geismar, La., to turn chicken fat into renewable diesel and jet fuel.
Dynamic Fuels will refit Lion Copolymer's Geismar plant, which will have annual capacity of 75 million gallons. It will use Syntroleum's Biofining technology in the processing.
Geismar is about 25 miles south of Baton Rouge, La. Louisiana officials said the refinery will employ about 45 people and have an annual payroll of about $4 million.
Jeff Bigger, Syntroleum's senior vice president, said the company expects to start production in 2010.
Syntroleum and Tyson announced their partnership in June, but had not picked a location at that time.
"This marks another important milestone in the execution of our strategy of leveraging access to animal by-products, our trading skills and industry relationships to become a premier player in renewable energy," said Jeff Webster, senior vice president of Tyson's renewable products division.
Syntroleum is a leader in the renewable fuels industry, but it has struggled to make money with its technology. Investors have battered the company's stock, taking it down to $1.13 from a $10 high in early 2006.
Shares fell 4 cents to close at $1.44 in Thursday's trading on the Nasdaq exchange.
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