VANCOUVER, BRITISH COLUMBIA -- Canadian Bioenergy Corporation, a leading supplier of premium biodiesel in Canada, and Archer Daniels Midland Company (ADM), a global leader in agricultural processing and biofuel production, have entered into negotiations to form a joint venture to construct and operate a 265 million litre/year (70 million gallon/year) canola-based biodiesel production facility at the site of ADM's canola crushing plant in Lloydminster, Alberta. The companies are in the process of undertaking a full feasibility analysis of the project.

Canadian Bioenergy is Canada's leading supplier of premium biodiesel, and the country's only BQ-9000 Certified Marketer. The company operates a terminal facility in British Columbia and has service to customers across the country. Canadian Bioenergy's rapidly growing customer base includes major fuel distributors, high-volume commercial customers and transit organizations.

SOURCE: Canadian Bioenergy Corporation via Market Wire.