MIAMI, FL --- HydroGenetics Inc. said that its subsidiary Buffalo Biodiesel has expanded processing facilities to increase capacity from 1 million to 5 million gallons of biodiesel annually.
HydroGenetics said it anticipates demand for biodiesel will further increase through federal mandates for its use in government vehicles as well as consumer transportation.
"The added capacity has allowed us to enter into several contract negotiations that I look forward to informing our stakeholders about in the near future," said Charles Hansen, CEO of HydroGenetics. "Simply put, we are looking at this increased capacity as a necessary step to fulfill demand."
Currently, a gallon of biodiesel averages $2.20.
HydroGenetics is an alternative energy company. One of the company's subsidiaries, HydroAxis Technologies Inc., is working to develop "green hydrogen generating technology systems for any internal combustion engine."