Thursday, January 26, 2012

Biofuels Firm Gets $232.5M Loan From US For Oregon Plant

Biofuels firm ZeaChem, which is developing biorefineries which turn woody biomass and agricultural residues to create bioefuels, said Thursday that it has received a $232.5M loan from the U.S. Department of Agriculture, to build a commercial facility in Boardman, Oregon. ZeaChem said the loan, part of the U.S. Department of Agriculture's 9003 Biorefinery Assistance Program, will go towards building its first, commercial-scale cellulosic biorefinery in the location. ZeaChem already has a pilot facility in Boardman. According to ZeaChem, the move is expected to create 188 direct construction jobs, 65 full-time operations jobs, plus an additoinal 242 indirect jobs related to construction and full time operations. ZeaChem's headquarters are in Colorado.