Loan Guarantee to Fund Biodiesel Plant

Cindy Zimmerman

USDA RD A Clinton, Iowa biodiesel plant is getting a $3.2 million loan guarentee from USDA’s Rural Development Agency, according to a release from USDA today. The Rural Development Renewable Energy Systems loan guarantee will be used to partially fund construction and operation of a biodiesel production plant with a yearly capacity of 10 million gallons. The plant will use over 7 million bushels of Midwestern grown soybeans a year. Additionally, the plant will use its own by-products to provide much of its energy supply. It is owned by Clinton County Bio Energy, LLC, which includes local farmers and business operators. When completed, the plant will provide at least nine new jobs. It is the first production facility to be located in a new 233 acre industrial park in Clinton. USDA also announced the awarding of 14 energy-related grants today – most for various power project in Alabama, Alaska and Arizona. Must be going in alphabetical order…