BioEnergy commences construction on 140 Mgy cellulosic ethanol and 100 Mgy corn ethanol plants in Pennsylvania

March 14, 2008

In Pennsylvania, BioEnergy commenced construction on its two plant complex, a 100 Mgy corn ethanol facility and a pilot cellulosic ethanol plant in Clearfield County that will both commence production in 2010. The project received $17.4 million in assistance from the Pennsylvania state government, and Pennsylvania Governor Ed Rendell was on hand for the groundbreaking ceremony. “Americaâ€™s future lies in cellulosic,â€ he said in commencement remarks.

BioEnergy International closed financing for its two ethanol plants in Clearfield. The $201 million in debt financing was provided by TD Banknorth and WestLB, with tax exempt bond financing by Sterns Brothers. Equity funding was provided by BioEnergy and its investors Plainfield Asset Management, Camulos Capital, Itera Ethanol, LLC, Context Capital Management and NGP Capital Resources.

“The corn and cellulosic pilot plants to be built in Clearfield are core to BioEnergyâ€™s mission of integrating the development of novel biocatalysts for use in innovative, state-of-the-art biorefineries,” the company said.

BioEnergy International’s strategy combines two conventional 108 Mgy corn-based ethanol plants, based in Lake Providence, LA and Clearfield County, PA; diversification into novel biocatalysts for the manufacture of green chemicals and biopolymers; and development of cellulosic technology to retrofit into existing and future plants.

The BioEnergy International research center is located in Woburn, Massachusetts, and serves as BioEnergyâ€™s strategic hub for development and commercialization of next generation biofuels, biopolymers, and specialty chemicals from renewable sources.

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Written by Jim Lane · Filed Under Producer News