Elevance raises $50M in new funding round; gets Mississippi project sweeteners, too

In Illinois, Elevance Renewable Sciences raised $50 million in a Reg D capital round with undisclosed investors. The company, which last raised $100 million in a capital round completed in December, declined to state use of proceeds. But the company is scheduled to start construction later this year on a $225 million project in Natchez, Mississippi.

Adams County officials in Mississippi this week agreed to increase the incentive package for Elevance to $7.1 million, which will be spent on  improvements to the port area and infrastructure investments, financed by a $2M Mississippi Development Agency grant, a $2M zero-interest MDA Rail loan , and a $3.1M 20-year county taxable bond. Elevance will also enjoy  ten-year tax holiday from Natchez.