Syntroleum Corp. tops list of state’s best companies
I have friends in Europe who can't understand why diesels aren't more popular in the US since Europeans have a variety to choose from. This is the way of our transportation future over the ridiculous idea of battery powered cars.
Karen Gallagher, Syntroleum’s senior vice president and principal financial officer, is not surprised by the company’s gains.
"We feel like we’ve done the right thing at the right time,” she said.
Gallagher said Syntroleum is beginning to capitalize on years of research efforts.
The company was not intended to make a profit during that period, she said, but now Syntroleum has a product to sell: a process called Bio-Synfining that can convert waste products into fuel.
"We’re a very unique niche,” Gallagher said. "Not a lot of companies do renewable fuels.”
Syntroleum is nearing completion of a $150 million plant in Louisiana, a joint venture with Tyson Foods Inc. that will churn out 75 million gallons on synthetic fuel each year. The company also is selling its shuttered demonstration plant at the Port of Catoosa to Sinopec Corp., a state-owned energy company in China.
"We have a technique that can turn waste products like yellow grease and chicken fat ... into a much higher quality fuel,” said Ron Stinebaugh, Syntroleum’s senior vice president of finance.
The Dynamic Fuels plant will be the first of its kind in this hemisphere, he said. It primarily will produce diesel fuel.
I have friends in Europe who can't understand why diesels aren't more popular in the US since Europeans have a variety to choose from. This is the way of our transportation future over the ridiculous idea of battery powered cars.