Thursday, January 26, 2012
ZeaChem announced a $232.5 million loan guarantee to help finance a planned larger facility in Boardman.
The 25-million-gallon-per-year facility has been discussed by the company for several months. It would be built adjacent to Colorado-based ZeaChem's demonstration-sized biorefinery which just started up operations this month. That facility has a 250,000-gallon-per-year capacity.
ZeaChem's efforts in Boardman have been well-funded by the federal government. The company landed $12 million of a $40 million USDA grant awarded for biofuels research in September. The plant has also benefited from stimulus funding and, from the state of Oregon, a Business Energy Tax Credit benefit.
Read more at Sustainable Business Oregon.