Agriculture Department Awards $97M in Biofuel Loans
August 27, 2007
• by Staff
WASHINGTON, D.C. --- The U.S. Agriculture Department last week awarded $97 million in loan guarantees to fund four biofuel projects.
Clean Burn Fuels LLC will receive $35 million to build an ethanol plant in Hoke County, N.C. Blackhawk Biofuels LLC was awarded $27.5 million to build a biodiesel plant near Freeport, Ill, BusinessWeek reported.
Appling County Pellets LLC was awarded $19.5 million to produce wood pellet fuel in Appling County, Ga., and National Trail Biodiesel will receive $15 million to construct a biodiesel plant in Jasper County, Ill.
Current law calls for 7.5 billion gallons of renewable fuel use in the U.S. by 2012, but proposed legislation would increase the requirements to 36 billion gallons per year by 2022.
Originally posted on Fleet Financials