Leif Forer Piedmont Biofuels Coop 2008 Annual Meeting April 12, 2008 West End Wine Bar Chapel Hill, NC
Cheap fuel?
Whats in a gallon?
Feedstocks
Fat or Oil: waste poultry fat or used fryer oil Alcohol: methanol Catalyst: potassium methylate Yield: 85% - 90% Federal Tax Credit:
$1.00/gallon for virgin fats and oils $0.50/gallon for recycled fats and oils
Whats in a gallon?
Refining
Wages Insurance Utilities: electricity and water Consumables: ion exchange resin, filters, absorbant, additives, etc. Laboratory EPA Compliance
Whats in a gallon?
Distribution
Short truck deliveries to the B100 Community Trail Maintaining equipment Administering transactions
Taxes
Federal Excise Tax: $0.244/ gallon State Excise Tax: $0.299/gallon Exemption? H.B. 2003 (Harrison) State Inspection Fee: $0.0025/ gallon Sales Tax: exempt
Distribution 0% Profit 4%
Taxes 12%
Feedstocks 22%
Refining 62%
Taxes 12%
Feedstocks 70%
(2003 - 2006)
B100
$4.23
$4.50
$3.15
Retail Feedstock
Biodiesel
Questions?