Kreido Biofuels, Inc. (OTCBB:KRBF) has expanded its Wilmington, North Carolina plant site plan and development schedule in order to double the plant's initial targeted biodiesel production capacity to 66 mmgy. Based on this strategic shift, the company believes it will be in a position to meet a significant portion of its targeted 2008 year-end 100 mmgy capacity at the site.

As part of the announcement made this week (9th October) the company also moved the target startup date of the Wilmington plant to the second quarter of 2008 from the first quarter of 2008. This strategic shift, says the company, will accommodate the doubling of the plant's initial target capacity at a lower cost than if the expansion were done at a later date. Also, several site-related modifications will be made that are not expected to significantly alter plant cost. The additional development time will allow the company to obtain concurrent regulatory approvals and build infrastructure that will allow for a more economical expansion. The Wilmington plant will operate using vegetable oils as the feedstock.

"We are making solid progress in developing Kreido's flagship plant and chose to prepare for a rapid expansion of its capacity," stated Ben Binninger, Chief Executive Officer of Kreido. "We have said Kreido can improve biodiesel production efficiency while requiring less equipment than conventional biodiesel processes. We believe that doubling the capacity of our Wilmington plant, which offers us deep water port access to feedstocks, will further enhance our production efficiency."