Coskata advances projects

By | January 12, 2009
Coskata Inc. in Warrenville, Ill., is continuing discussion with United States Sugar Corp. in Clewiston, Fla., regarding development of a 100 MMgy cellulosic ethanol plant in Clewiston that would annually convert 1 million tons of sugarcane waste and bagasse into ethanol. Pending a grant from the Florida Energy Office and loan guarantees from the USDA, the estimated $400 million plant could begin production in 2012. Negotiations had been on hold for several months until the sugar company signed a land sale and use agreement with the state of Florida in November.

Meanwhile, Coskata secured a Series C round of equity financing led by New York-based Blackstone Cleantech Venture Partners LP to help complete construction of its 40,000-gallon-per-year demonstration plant in Madison, Pa., which is expected to be operational in early 2009.