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Biofuel Producer Investing $29.3 Million for South Carolina Facility

Renewed World Energies (RWE), a producer of algae-based renewable fuels, will invest $29.3 million to locate a facility in Maryville, South Carolina, according to South Carolina economic development officials. The project is expected to create 60 new jobs. RWE's plant will use the company's proprietary technology to convert algae into oil for diesel fuel and jet fuel. "We are pleased to locate our new oil processing plant and algae bioreactors in Georgetown County," says Richard Armstrong, RWE's president. "South Carolina is a great fit for our company, providing us with an exceptional work force and positive business environment. The new plant will help us meet growing demand for biodiesel and alternative fuels." The company expects to have operations at full capacity by late 2010 and will market its products to the biofuels and power generation industries. State officials did not release information regarding financial incentives offered to RWE.

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