Jan 13 2010
SynGest Inc. has selected Stern Brothers to secure capital financing for its biomass-to-ammonia plant that is be located in Menlo, Iowa. Jack Oswald, CEO of SynGest, said that Stern Brothers was selected by the company after extended discussions with many investment bankers. He added that the company was impressed with Stern Brothers’ alternative energy team. Stern Brothers is well aware of the SynGest’s business model and appreciate the fact that it renders long-term benefits for investors, farmers and local community.
SynGest is planning to construct similar projects in other locations of the country after the Iowa fertilizer mini-plant is launched in 2010. The company is currently conducting discussions with interested parties in Michigan, Ohio, Minnesota, and Oregon regarding emerging opportunities.
Stern Brothers represents private and public company developers and operators who require non-recourse project finance in the renewable energy landscape such as in the ethanol, biodiesel, methane gas, biomass-to-energy and biomass to chemicals and fuels sectors.
John May, Managing Director at Stern Brothers, said the company while analyzing a wide range of financing options will be focusing on loan guarantees, loans, taxable as well as tax-exempt bonds, and other kinds of institutional and private investment. He commented that the company’s aim is to secure the cheapest long-term financing for this unique project.
Source: www.syngest.com