Kreido Biofuels will move ahead with construction of a biodiesel production plant after receiving necessary permits and approvals. The first stage of the plant at the Port of Wilmington in North Carolina will produce 33 million to 50 million gallons of biodiesel, the company said. Work will begin on the facility once Camarillo-based Kreido obtains $25 million to complete the site work, transfer plant modules from Texas, and initiate plant operations, said company CEO Ben Binninger. “We are targeting to be in a position to start site work within the next few months,” Binninger said. The approvals give Kreido an annual production capacity of 100 million gallons.
