USDA Guarantees $91 Million For Cool Planet’s Louisiana Biofuel Plant

Cool Planet Energy Systems recently was issued a $91MM conditional commitment from the United States Department of Agriculture for a loan guarantee to support construction of the company’s first commercial manufacturing plant. The facility will be located at the Port of Alexandria, Louisiana. “We would like to thank the USDA for its commitment to commercialization […]

Cool Planet Energy Systems recently was issued a $91MM conditional commitment from the United States Department of Agriculture for a loan guarantee to support construction of the company’s first commercial manufacturing plant. The facility will be located at the Port of Alexandria, Louisiana.

“We would like to thank the USDA for its commitment to commercialization of industry-leading projects such as ours,” said Cool Planet CEO Howard Janzen. “The Cool Planet process provides real solutions to some of today’s most important energy, food and water challenges. Our first commercial plant will produce renewable fuels by converting wood chips into high octane gasoline and aromatic blendstocks that are chemically identical to fossil fuels.

“From this process, we will also produce a co-product called CoolTerra™ which is an advanced soil amendment. CoolTerra™ enables agricultural producers to retain water and nutrients in soil to increase crop yields, and in drought conditions, to maintain their crop yields with significantly less water and fertilizer.”

In making the announcement of the loan guarantee to Cool Planet, USDA Secretary Tom Vilsack said, “This partnership is the latest example of the Obama Administration’s continuing support for innovative, home-grown energy sources. USDA’s support for renewable energy projects like this helps create jobs in rural areas, promotes U.S. energy independence, and leads to further expansion of the growing and increasingly significant bioeconomy – all while reducing carbon pollution and other greenhouse gases.”

From Woodworking Network: http://www.woodworkingnetwork.com/wood/lumber-data-trends/USDA-Issues-Conditional-Commitment-for-91MM-Loan-to-Cool-Planet-278175191.html#sthash.BeetjORd.3o8tHo8V.dpbs

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