Valero Energy Drops $3.5 Billion On Biodiesel From Jatropha

Valero Energy, the largest American refiner, is placing more bets on renewable fuel, agreeing to a five-year deal with the Australian biofuel refiner Mission NewEnergyto obtain biodiesel made from jatropha.

From The New York Times Green Inc. blog: Mission will supply Valero with up to 60 million gallons of biodiesel per year, starting next year. Under the terms of the agreement, Valero can double that amount and extend the contract by an additional five years.

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