Biofuels Digest Special Report on Gasification & Pyrolysis: Cellulosic ethanol pioneer Range Fuels
Range Fuels uses a gasification-to-ethanol process to convert wood chips to cellulosic ethanol. Earlier this year, Range announced that it secured an $80 million loan guarantee through USDA that will contribute towards financing of its 100 Mgy wood-waste cellulosic ethanol plant. The plant was scheduled to open in early 2009, but there have been delays, and the plant will now open in 2010. Range previously had raised more than $100 million in venture capital in 2008, and obtained a $76 million grant from the Department of Energy for the plant’s construction.
Last November, founder Mitch Mandich stepped down after ,raising $180 million in debt guarantees and equity . His successor: David Aldous, former EVP of Strategy and Portfolio for Shell.
The company has a pilot plant in operation in Denver. According to the company, the “technology has been tested and proven in bench and pilot-scale units for over eight years. Over 15,000 hours of testing has been completed on over 30 different non-food feedstocks with varying moisture contents and sizes, including wood waste, olive pits, and more.”
http://biofuelsdigest.com/blog2/2009/01/20/range-fuels-secures-80-million-loan-guarantee-from-usda-for-100-mgy-cellulosic-ethanol-plant/
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