Toronto firm invests in Miami biodiesel producer

Toronto-based Envest Corp. announced Nov. 15 that it has made a strategic investment in Biodiesel Las Americas LLC, a biodiesel facility in Miami, Florida, with an annual production capacity of 10 million gallons per year. Envest’s investment is being used for process and automation upgrades currently underway. Plant recommissioning is expected in early 2022.

“Envest’s investment allows us to lever our expertise in bioenergy to vertically integrate Biodiesel Las Americas and expand further into biofuels,” said Jason Moretto, president and CEO of Envest. “This transaction enhances Envest’s geographical scope in North America with a presence in the American Southeast, which we plan to expand from with additional renewable energy development opportunities.”

Envest said it intends to establish a network of biofuels facilities in the U.S.