Biorefiner ZeaChem Scores $233M USDA Loan Guarantee

Law360, New York (January 27, 2012, 1:58 PM EST) -- Private equity and venture capital-backed biorefiner ZeaChem Inc. has been selected by the U.S. Department of Agriculture for a $232.5 million loan guarantee to finance the construction of a commercial-scale biorefinery to convert biomass and farm byproducts into biofuels, ZeaChem said Thursday.

The Boardman, Ore., cellulosic biorefinery will convert woody biomass and agricultural residues into bio-based fuels such as ethanol. The refinery will have a capacity of 25 million gallons per year and will be built next to ZeaChem's exisitng 250,000 gallons-per-year demonstration biorefinery.

“The USDA...
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