The total $201 million debt financing was provided by TD Banknorth and WestLB, with tax exempt bond financing by Stern Brothers. Equity funding was provided by BioEnergy and its investors.
The corn and cellulosic pilot plants to be built in Clearfield are core to BioEnergy’s mission of integrating the development of novel biocatalysts for use in biorefineries.
Stephen Gatto, chairman and CEO of BioEnergy, said: With the launch of the Clearfield project, we have created a model of sustainability with partners Getty Petroleum Marketing and the Commonwealth of Pennsylvania.
