Alabama Pellet Project Awarded $5.3M In New Markets Tax Credit, Adds New Jobs

U.S. Bank and partners has provided $5.3 million of federal and Alabama New Markets Tax Credit equity for Zilkha Biomass Energy to renovate a former Dixie Pellets facility in Selma. U.S. Bank, Stonehenge Capital Company and AMCREF Community Capital announced today that they had closed on the financing to help Zilkha transform the facility into […]

U.S. Bank and partners has provided $5.3 million of federal and Alabama New Markets Tax Credit equity for Zilkha Biomass Energy to renovate a former Dixie Pellets facility in Selma.

U.S. Bank, Stonehenge Capital Company and AMCREF Community Capital announced today that they had closed on the financing to help Zilkha transform the facility into the world’s first full-scale Zilkha black pellet plant.

The project will generate 55 jobs at the Zilkha facility, as well as 120 jobs in the trucking and forestry industries for the surrounding community, according to U.S. Bank. Also, it is estimated that the project will bring 380 construction jobs to the area.

Zilkha’s hydrophobic black pellet is waterproof, compressed wood pellet fuel that can be transported and burned by coal plants using their existing equipment.

“We’re excited to open the world’s first full-scale Zilkha black pellet plant in Alabama,” said Jack Holmes, CEO for Zilkha Biomass Energy, in a statement. “Selma offers the workforce and training that will help make this facility successful. The plant will produce 275,000 tons of our black pellets per year, which can generate enough clean, renewable electricity to supply 50,000 homes per year.”

From Birmingham Business Journal: http://www.bizjournals.com/birmingham/news/2013/08/05/selma-project-awarded-53m-in-new.html

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