26 January 2012 18:27 [Source: ICIS news]
HOUSTON (ICIS)--US biorefinery developer and Advanced Ethanol Council (AEC) member ZeaChem announced on Thursday that it has been selected for a $232.5m (€176.7m) loan guarantee from the US Department of Agriculture’s (USDA) 9003 biorefinrey assistance program.
ZeaChem president and chief executive officer Jim Imbler also detailed the company’s ongoing development of a 25m gal/year commercial-scale cellulosic ethanol production facility adjacent to its demonstration plant in Boardman, Oregon. The facility will produce advanced ethanol and bio-chemicals from woody biomass and agricultural residues.
The USDA loan guarantee program helps advanced biorefining projects attract capital and reduce the initial risk of deploying new technologies
The AEC is the only advanced biofuel group with the singular purpose of promoting advanced ethanol fuels and technologies. Twelve member companies make up the AEC including, Abengoa Bioenergy Corp, Beta Renewables, BlueFire Renewables, Coskata, Enerkem, Fulcrum BioEnergy, Inbicon, Iogen, Mascoma, Osage BioEnergy, Qteros and ZeaChem.
($1 = €0.76)
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