Cilion closes $105 million for two new ethanol plants amidst difficult credit conditions

Cilion closed on a $105 million first round of debt financing for the construction of two new ethanol plants in California. Farm Credit Services of America, MetLife and CoBank were co-lead lenders in the transaction.

Cilion is backed by Vinod Khosla and Richard Branson, among other investors, and is helmed by Mark Noetzel. Noetzel moved to Cilion last month from BP. Cilion has a third plant already under construction in Keyes, CA that will produce 55 million gallons per year.

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