06 August 2012 23:46 [Source: ICIS news]
HOUSTON (ICIS)--The US Department of Agriculture has awarded Fulcrum BioEnergy a conditional commitment for a $105m (€85m) loan guarantee to build a waste-to-ethanol plant, the California-based company said on Monday.
“With the loan guarantee finalised, the company will secure bank financing, which when combined with private equity capital provided by Fulcrum, will fully fund construction of the municipal solid waste to renewable transportation fuel facility,” the company said.
The Sierra BioFuels plant would be built about 20 miles (32 kilometres) east of Reno, Nevada, the company said. It would produce 10m gal/year (38m litres/year) of ethanol as well as renewable energy to be used at the plant, which would utilise processed municipal solid waste as a feedstock.
($1 = €0.81)
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