Mr. Alan Rickard reports

BIOX ANNOUNCES COMMISSIONING OF 90 MILLION USG BIODIESEL PRODUCTION FACILITY IN HOUSTON

World Energy BIOX Biofuels LLC (WEBB), a 50:50 joint venture between World Energy and BIOX Corp., has completed the commissioning of its 90-million-U.S.-gallon nameplate-capacity biodiesel-production facility in Houston, Tex. The facility started operating at full capacity in December, 2016.

"The commissioning of the Houston facility significantly increases the product we produce, control and distribute. Strategically located at one of the largest liquid fuels terminals in the United States, the facility has immediate, cost-efficient logistical access to supply the nation's largest customers," said Alan Rickard, chief executive officer of BIOX. "The timing of commissioning is ideal as it coincides with the increase to the U.S. renewable volume obligation for biomass-based diesel for 2017. Given its scale and its access to the key Gulf Coast and East Coast markets, we believe Houston's production will drive our bottom-line results significantly higher based on the existing pricing fundamentals in the U.S. biodiesel market."

The Houston facility operates two equal-sized production trains that combine to provide a nameplate capacity of 90 million U.S. gallons, or 341 million litres. It uses crude degummed-grade vegetable oils as its biodiesel feedstock. WEBB acquired the facility in June, 2016, from Kinder Morgan. It is located within the Kinder Morgan liquids terminal, a major diesel distribution hub in the Southern U.S. market. This location provides WEBB's biodiesel facility with immediate access to a deepwater port, rail, truck and pipeline providing distribution to all major U.S. markets.

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