The construction industry might be struggling a bit these days, but biodiesel plants are still being built… with some help from federal and state programs that are backing the capital to get these startups going.
As an example, a Missouri-based biodiesel maker has received some help to get their proposed biodiesel plant and soybean crushing facility off the ground. This story from Biodiesel Magazine has details:
Moberly, Mo.-based Producers’ Choice Soy Energy LLC has received a $9.5 million construction loan from Advantage Capital Partners, a venture capital and small business finance firm. The loan was made possible through state and federal tax programs, including the Missouri New Markets Development program, that are designed to stimulate growth in underserved communities.
The funding will be used to support the construction and operational needs of a soybean processing plant and 5 MMgy biodiesel production facility. The soybean crush will process up to 250 tons of soybeans per day for use in biodiesel processing. In addition, 65,000 tons of extruded soybean meal will be produced annually.
The plant is scheduled to be finished this coming February.