Wednesday, October 20, 2010

From the web - Oct. 20, 2010

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U.S. financial support to the development of biofuels – biofuels, cellulosic ethanol – the chemical industry
(Article is undated. Refers to the 80 million USDA loan)

U.S. Department of Agriculture announced on March 3, Range Fuel will provide 80 million U.S. dollars of loan guarantees to finance the company's plant in Georgia, wood cellulose production of bio-fuel projects. It is understood that this is the first commercial U.S. Department of Agriculture Fiber Cellulose bio-fuel plants to provide secured loans, loans in some of the funds will be used for fuel Range first commercial cellulosic bio-fuel projects. According to the plan, the project's first phase of construction will be completed this month and put into operation the second quarter of this year. Fully operational, the plant will annually produce about 20 million gallons of cellulosic ethanol. Range Fuel's CEO, David? Aldous, said the Ministry of Agriculture's loan guarantee will help the company expand plant and related facilities, the successful completion of the work, will contribute to the United States the use of cellulosic biofuels, and commercial promotion.

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