Flint Hills Resources invests in biodiesel company

Flint Hills Resources recently closed on an equity investment in Benefuel, a Chicago company that holds the license to a new technology that could dramatically improve the cost effectiveness of biodiesel production.

Benefuel will operate an integrated pilot plant, which will most likely be located in Texas.

"We believe this technology has the potential to efficiently expand the range of low cost feedstocks used in biodiesel production," said Jeremy Bezdek, managing director of innovation for Flint Hills Resources. "As part of our agreement with Benefuel, the company will build and operate an integrated pilot plant to prove its innovative process."

The technology is a process called ENSEL which refines renewable feedstocks into a number of high-margin products.

Bezdek will join the Benefuel board of directors.