The company is a partnership of Houston-based Accelergy and Owensboro-based Owensboro Grain Co.

According to Accelergys web site, it uses catalysts and process technologies to transform natural gas, biomass and coal into specialty products and transportation fuels. The company claims its hydroconversion technologies economically convert abundant natural resources into clean, low-carbon products.

This project represents the first step toward a fully integrated production facility to produce a wide range of biospecialty products for application in the oil field chemicals, heat transfer fluids and industrial lubricants sectors, John Wright, co-managing director of OG&A and executive vice president at Owensboro Grain Co., said in a news release.

OG&A has secured exclusive licenses, joint development and service agreements with major technology developers in the sector, enabling the company to deploy build facilities that make solvents, lubricants, performance fluids or fuels, Rocco Fiato, co-managing director at OG&A and chief technical officer at Accelergy Corp., said in the release.

Houston-based Accelergy said it produces high-performance, low-cost biospecialty fluids from a range of feedstocks. It also said that these carbon-based products have low overall greenhouse gas footprints and that they promoting energy and economic secuirty by using domestic energy resources. The company said it targets product compositions that are biodegradable and have low toxicity to meet increasingly demanding environmental requirements. Accelergy has partner facilities in Montana, North Dakota, Pennsylvania and Shanghai, China.

Owensboro Grain Co. produces soy products and edible oils, including protein meal and hull pellets for animal feeds; crude and degummed oil, and lecithin; and various blends of refined vegetable oil for human consumption, biodiesel and glycerin.