ZeaChem lands $232M loan guarantee for Oregon biorefinery

By: Lindsey O'Brien//January 26, 2012//

ZeaChem lands $232M loan guarantee for Oregon biorefinery

Lindsey O'Brien//January 26, 2012//

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Leading biofuel company today announced a conditional commitment for a $232.5 million loan guarantee from the U.S. Department of Agriculture to support the construction of a major facility in Oregon.

The Colorado-based company’s first commercial-scale cellulosic biorefinery, a 25 million gallon-per-year facility, will be built across the street from a recently completed demonstration plant in Boardman.

The $390 million commercial plant is expected to create 188 construction jobs, plus an additional 242 indirect jobs for construction and full-time operations.

The USDA’s commitment will allow ZeaChem to move forward with securing financing and beginning construction on the new facility, according to Jim Imbler, president and CEO of ZeaChem. He expects to start building the plant in 2013 and have it come online the following year.

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