The company said it will resume production after analyzing the biodiesel market conditions, including production volumes and pricing.
The recently commissioned stand-alone glycerin refinement system will, however, continue to operate, the company said.
BIOX Corporation CEO Kevin Norton remarked the company’s balance sheet was ina position to support short-term setbacks.
"Our proprietary technology is one of the lowest cost biodiesel production platforms in the industry, however based on the EPA reported production volumes that have resulted in depressed prices and the volatility within the RIN (Renewable Identification Numbers) market, we believe that temporarily suspending biodiesel production at our Hamilton facility is the responsible decision.
"We remain confident in the long-term fundamentals of the broader biodiesel market, specifically given the 28 percent increase in the mandated minimum volume of biomass-based diesel for 2013, and we expect to resume production in due course," Norton said.
The Hamilton biodiesel facility has an annual capacity of 67 million liters.
