BioSelect and Chevron Unveil Fully Operational Biodiesel Plant in Galveston, Texas

BioSelect and Chevron Develop One of the First Large-Scale Biodiesel

Production Facilities in North America

    HOUSTON and SAN RAMON, Calif., May 29 /PRNewswire-FirstCall/ --
 BioSelect Fuels LLC, a division of Standard Renewable Energy LLC, and
 Chevron Technology Ventures, a division of Chevron USA, unveiled their
 biodiesel plant in Galveston, Texas today. The plant is one of the first
 large-scale biodiesel production facilities in North America and is now
 producing clean-burning biodiesel from renewable resources.
     Galveston Bay Biodiesel, LP (GBB) is the initial project of BioSelect
 Fuels, a Houston-based developer and operator of biodiesel facilities. The
 facility will initially produce 20 million gallons of biodiesel per year
 and has the capability to expand operations to produce 110 million gallons
 per year.
     U.S. Senator Kay Bailey Hutchison, U.S. Representatives Ron Paul (14th
 district of Texas) and Nick Lampson (22nd district of Texas), Galveston
 Mayor Lyda Ann Thomas and Tobin Harvey, senior advisor with the U.S
 Department of Energy, christened the facility at a ribbon-cutting ceremony
 today.
     Chevron USA, through its subsidiary, Chevron Technology Ventures, has a
 22 percent equity position in GBB.
     "Chevron's investment is a tangible manifestation of the company's
 strategy to invest in renewable energy technologies," said Donald Paul,
 vice president and chief technology officer, Chevron. "Biofuels are playing
 an increasingly important role in diversifying our nation's energy
 portfolio. With growing demand, the nation needs all the sources of energy
 to contribute to supply. Our involvement with BioSelect Galveston will
 allow us to apply our world-class capabilities in transportation fuel
 manufacturing and distribution while expanding our knowledge and experience
 in large-scale biofuels production," said Paul.
     "Chevron is setting an example for the energy industry by constant
 innovation and proactive leadership to create new energy sources, like the
 added domestic fuel production capacity at BioSelect, which is critical in
 meeting growing demand," said John Berger, Chairman and CEO of Standard
 Renewable Energy.
     BioSelect Galveston will produce biodiesel from soybeans and other
 renewable feedstocks. The biodiesel will be sold to the marine, commercial,
 trucking and industrial markets for use as pure biodiesel or biodiesel
 blended with off-road or on-road diesel. The facility has multiple
 transportation options due to its rail, barge and deep water access and is
 located in the heart of the U.S. energy infrastructure.
     BioSelect is targeting aggressive expansion plans across multiple
 large- scale sites nationwide, with plans for capacity of 470 million
 annual gallons by 2010.
     About Biodiesel
     Biodiesel is a clean-burning, biodegradable and renewable fuel made
 from a variety of feedstocks. According to the National Biodiesel Board,
 U.S. biodiesel production more than doubled last year to an estimated 225
 million gallons.
     The U.S. Department of Energy estimates that biodiesel could account
 for 10 percent of the U.S. petroleum diesel market by 2015. The U.S. diesel
 and distillate market was 60 billion gallons in 2005.
     Key benefits of biodiesel include:
      - It can be transported through traditional fuel pipelines.
      - Biodiesel can be used in most diesel engines with little or no
        modification. Many leading automotive manufactures have approved B20 in
        their commercial, military and government vehicles.
      - Biodiesel has a lubricity improvement over petroleum diesel fuel,
        leading to extended engine life.
      - Rapidly expanding availability, with over 700 current retail sources.
     About BioSelect
     BioSelect is a division of Standard Renewable Energy. Standard
 Renewable Energy is a fully integrated renewable energy company serving
 commercial and residential customers with clean renewable energy and energy
 efficiency solutions. BioSelect is a developer and operator of biodiesel
 facilities, offering the highest quality biodiesel fuel to the global
 marketplace. BioSelect is focused on oil industry collaboration to bring
 biofuels mainstream. For more information please visit:
 www.bioselectfuels.com
     About Chevron Technology Ventures
     Chevron Technology Ventures (CTV), a division of Chevron, USA, Inc.,
 champions innovation, commercialization and integration of emerging
 technologies and related new business models within Chevron. CTV is
 pursuing this goal through business units involving biofuels, hydrogen,
 emerging energy and venture capital.
     In 2006, Chevron Technology Ventures formed a business unit to advance
 technology and pursue commercial opportunities related to the production
 and distribution of biofuels in the United States.
     Chevron Corporation ( CVX) has had operations in the U.S. Gulf of
 Mexico and surrounding states for more than 60 years. Chevron is one of the
 world's leading energy companies. With approximately 56,000 employees,
 Chevron subsidiaries conduct business in approximately 180 countries around
 the world, producing and transporting crude oil and natural gas, and
 refining, marketing and distributing fuels and other energy products.
 Chevron is based in San Ramon, Calif. More information on Chevron is
 available at www.chevron.com.
 
 

SOURCE Chevron Corporation