Jan 18 2011
INEOS New Planet BioEnergy, a joint venture between INEOS Bio and New Planet Energy, has secured a guaranteed loan worth $75 million on a conditional commitment basis from the 9003 Biorefinery Assistance Program of the U.S. Department of Agriculture (USDA) to build the INEOS BioEnergy Center in Vero Beach, Florida.
The BioEnergy Center will generate 24,000 tons or eight million gallons of improved biofuel annually in addition to 6 MW renewable energy from biomass such as municipal solid waste, yard, wood and vegetative wastes. The USDA program is granting the loan to commercialize the next-generation bioenergy techniques.
The USDA 9003 program offers assured loans to develop commercial-scale biorefineries or for the integration of suitable technologies with the existing facilities for the production of enhanced biofuels. Landscaping and construction are happening at the BioEnergy Center, which is scheduled for operation in 2012. The project is expected to offer 175 construction jobs and 50 permanent jobs once the facility commences production.
The INEOS Bio technology uses a patented anaerobic fermentation step that allows naturally occurring bacteria to convert gases released from biomass into ethanol. The technology can use a number of feedstocks such as municipal solid waste, forestry waste, construction and agricultural waste for the production of renewable energy and ethanol, whereas traditional technologies depend on one major source of feedstock. This feature enables plants like the Florida BioEnergy Center can be developed anywhere in the globe.
Source: http://www.inpbioenergy.com