First commercial-scale cellulosic bio-refinery in US receives $232.5 million loan guarantee
Bio-refinery developer ZeaChem Inc has received a $232.5 million loan guarantee from the US Department of Agriculture’s (USDA) 9003 Bio-refinery Assistance Program to finance the construction of the company’s first scale cellulosic bio-refinery.
The conditional commitment enables the Lakewood, Colorado-based firm to move forward with its plans to develop a state-of-the-art facility that will produce bio-based fuels and chemicals from woody biomass and agricultural residues.
“The USDA loan guarantee is a significant validation for ZeaChem’s highly efficient, economical and flexible bio-refinery technology,” said Jim Imbler, president and chief executive officer of ZeaChem. “This commitment allows us to move forward with securing financing, beginning construction, creating jobs in the community, and producing economical and sustainable products for the fuel and chemical industries.”
The facility is expected to have capacity of 25 million or more gallons-per-year (GPY). It will be located at the Port of Morrow in Boardman, Ore., adjacent to ZeaChem’s 250,000 GPY integrated demonstration bio-refinery.
ZeaChem has agreements for 100 percent of the facility’s woody biomass feedstock from the nearby GreenWood Tree Farm Fund (GTFF), managed by GreenWood Resources (GWR), as well as from local agricultural residue processors.
“Advanced biofuels are critical to securing America’s energy future,” said US Agriculture Secretary Tom Vilsack. “This project and others like it will help establish a domestic advanced biofuel industry that will create jobs here at home and open new markets in the Pacific Northwest and across America.”
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