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Business
Cool Planet Gets USDA Loan Backing
by Melody M. Bomgardner
October 13, 2014
| A version of this story appeared in
Volume 92, Issue 41
Cool Planet Energy Systems, a start-up biofuels firm, has received a $91 million loan guarantee from the U.S. Department of Agriculture to support construction of a plant at the Port of Alexandria in Louisiana. The company has developed a pyrolysis system that produces gasoline and aromatic fuel blendstocks from wood chips. A carbon side-product of the process called biochar is used as a soil amendment. Cool Planet, which has attracted investors including Google Ventures, BP, and Exelon, broke ground at the site earlier this year and expects to start up in early 2016.
The power is now in your (nitrile gloved) hands
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