It must be nice to have Big Govt finance or gift 127.5 Million of the 130 Million dollar facility. If it was such a good idea, then why couldn't they get private financing?
Nice picture of factory site. Pretty green grass around everything instead of big piles of refuge and mud that will be the reality.
Our country needs innovation, but not when it is forced upon the taxpayers.
What economic downturn?
The world’s first bioenergy center broke ground in Florida this morning, marking another milestone in the march toward affordable, commercial-scale biofuels.
The $130 million Indian River BioEnergy Center in Vero Beach, Fla. aims to produce eight million gallons of bioethanol each year and six megawatts of renewable power using local yard, vegetative and household wastes.
Lisle, Ill.-based firm INEOS Bio — a subsidiary of a chemical giant by the same name — is behind the technology for the facility, while New Planet Energy is building and operating it.
The idea is to create energy from cellulosic sources without using feedstock to do so. To do so, the biorefinery produces fuel by converting construction and municipal solid waste, forestry and agricultural waste.
The benefits, according to the companies: U.S. energy independence and cleaner, more sustainable transportation.
About two megawatts of that power will be exported to the local community, enough to power 1,400 homes. The center is built on the site of a former citrus processing plant.
The companies received a $2.5 million grant from the State of Florida for the project, as well as a $50 million grant from the U.S. Dept. of Energy in 2009. It also received a conditional commitment for a $75 million loan from the U.S. Dept. of Agriculture.
It’s set to come online in mid-2012.
