Five new North Carolina ethanol plants struggle with financing, despite state’s commitment to biofuels leadership

November 14, 2007

In North Carolina, five new ethanol plants are struggling to find financing despite the state’s attempts to position itself as a leader in biofuels. E85 cancelled a planned ethanol plant in Fayetteville, and a plant near Aurora has been postponed for more than a year to date, despite $3 million in state incentive financing.

Two small plants in Hoke and Robeson counties are still possible, based on a planned conversion to cellulosic ethanol when the technology becomes commercially viable.

A cellulosic ethanol plant in Spring Hope is still in the planning stages and not yet cancelled. The owners, Xethanol, plan to develop a $20 million biofuels facility for biodiesel as well as ethanol.

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Written by Jim Lane · Filed Under Policy, Producer News