Friday, January 16, 2009

Verenium to launch largest commercial-scale cellulosic ethanol plant; $250 million 36 Mgy Florida project starts this year : Biofuels Digest

I haven't written a lot about biofuels this year. The decreasing price of oil is an influential factor. Certainly, the economic crisis has impacted investments in the field of biofuels production. But that area isn't completely dead. Things are happening.

Verenium to launch largest commercial-scale cellulosic ethanol plant; $250 million 36 Mgy Florida project starts this year : Biofuels Digest: "In Florida, Verenium announced that it would commence construction of what it termed the first commercial-scale cellulosic ethanol plant. The facility will be located in Highlands County, between Orlando and Lake Okeechobee.

The company said that it would receive $7 million in support for the project from the state of Florida’s Farm-to-Fuel fund, and expected to break ground on the 36 Mgy facility in the second half of the year. The project will cost between $250 and $300 million and will use non-food grasses as feedstock.

The company’s 1.4 Mgy demonstration-scale plant in Jennings, Louisiana commenced production this month , and capping off an excellent start to the year was news from NASDAQ that the company was once again in compliance with the exchange’s minimum market cap of $50 million. The company announced $133 million in losses in the third quarter."
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