INEOS Financing on Bioenergy Plant Will Create Almost 400 Jobs

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Financing that will make a new INEOS Bio energy center in Florida a reality recently closed, thus creating an opportunity for the United States to become more energy independent and also create hundreds of new green jobs.

INEOS Bio announced this week that its INEOS New Planet BioEnergy Center near Vero Beach completed $75 million in private funding via the U.S. Department of Agriculture’s 9003 Biorefinery Assistance program. The INEOS facility is the first type of bioenergy project of its scale in the United States to finalize funding.

The INEOS bioenergy project will generate 380 green jobs, which includes 200 construction jobs, and the center will provide 50 full-time green jobs when construction on it the facility is complete.

“The Vero Beach BioEnergy Center is the first of its kind in the world and provides a template for a technology that can make a real contribution to energy independence and job creation, while also reducing green house gas emissions and diverting wastes from landfill and lower value uses,” said Peter Williams, chairman of INEOS New Planet BioEnergy and CEO of INEOS Bio.

BioEnergy Center Production to begin in 2012

Work on the INEOS New Planet BioEnergy Center actually is already 20 percent complete, and production at the center is expected to commence in the second quarter of 2012. The $75 million in private funding for the INEOS New Planet BioEnergy Center will go toward construction and engineering work as well as industry equipment.

Once the project is completed, the facility’s biomass resources including household wastes and vegetation will enable the bioenergy facility to yield 80 million gallons of advanced biofeuls and six megawatts of renewable energy each year. The INEOS New Planet BioEnergy Center should produce enough renewable energy to support 1,400 local houses.
“We want to commend the USDA on its partnership with us in advancing this bioenergy technology and making it commercially available,” Williams said.

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