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Business

Green Rock, Eastman Will Gasify Twice

November 5, 2007 | APPEARED IN VOLUME 85, ISSUE 45

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Credit: CDC/James Gathany
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Credit: CDC/James Gathany

Green Rock Energy, a company formed by D. E. Shaw and Goldman, Sachs & Co. to invest in new energy sources, will join Eastman Chemical in a $1.6 billion coal gasification facility planned for Beaumont, Texas, by 2011. Green Rock and Eastman have formed a 50-50 joint venture for the plant, which Eastman will operate. The two companies are also investing together in a $1.6 billion gasification plant planned for Louisiana.

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