“Kinross, Mich. — KINROSS — Mascoma announced Friday that it has entered into definitive agreements with San Antonio, Texas-based Valero Energy Corporation, to develop and operate the long-planned commercial-scale cellulosic ethanol facility in Kinross”
The cost to construct, commission and start-up this facility is expected to be approximately $232 million, based on current external engineering estimates, and includes certain up-front infrastructure costs that will enable the expansion of the facility to 40 million gallons per year. These costs are fully funded, with Valero providing the majority of the financing, and the remainder from awards by the U.S. Department of Energy and the State of Michigan. Construction of the Kinross facility is anticipated to start in the next three to six months and is expected to be completed by year-end 2013. Source: Funding secured for Mascoma plant in Kinross – Sault Ste. Marie, MI – Sault Ste. Marie Evening News
WUPN : If they use hardwood pulpwood and naturally regenerated feedstock ( i’m thinking this is manure), will the plant stay profitable or will it crash and close like what happened in Marquette. How many jobs will this generate with the tax dollars being shelled out. $232 million dollars?
- Mascoma Gets New Financing, Plans 2011 Biorefinery Groundbreaking (xconomy.com)
- Oil refiner chips in for wood-to-biofuel plant (news.cnet.com)
- Valero agrees to fund Mascoma cellulosic ethanol plant – Ethanol Producer Magazine (ethanolproducer.com)