Enerkem gets loan guarantee for Mississippi waste-to-fuel biorefinery
Enerkem Corp. has obtained a conditional commitment for an $80 million loan guarantee by the US Department of Agriculture (USDA), for the construction of its waste-to-biofuels project in Pontotoc, Mississippi, which will transform Northeast Mississippi’s municipal solid waste into ethanol.
The loan guarantee is part of the USDA 9003 Biorefinery Assistance Program and follows an award of up to $50 million from the US.Department of Energy, announced in late 2009 for this facility. This combined commitment from US government agencies continues to bolster private sector investment and confirms that Enerkem’s waste-to-biofuel technology is a frontrunner in the development of renewable and alternative energy.
“USDA financing for our Mississippi plant demonstrates the confidence in Enerkem as a company equipped to drive the waste-to-biofuels movement across North America and beyond,” said Vincent Chornet, Enerkem’s CEO. “We are thrilled with the resounding assurance that we continue to earn from leading government and private investors. We are committed to helping communities reduce reliance on fossil fuels, create jobs, and decrease landfills, with Enerkem’s innovative solution.”
“This biofuel initiative in Pontotoc County is moving forward and offers more opportunities for reducing waste and developing renewable energy jobs in rural Mississippi,” said US Senator Thad Cochran, a member of the Senate Agriculture, Nutrition and Forestry Committee. “I am pleased that the federal government will continue to invest in its development.”
Enerkem’s biorefinery operation in Mississippi (a 300 tpd facility located on the Three Rivers landfill site) will initially produce 10 million gpy of ethanol from sorted municipal solid waste and will reduce the pressure to landfill. The project is expected to create more than 70 permanent jobs.
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