[PCA] Fwd: USDA Guarantees $91 Million Investment in Innovative Louisiana Biofuel Plant

[De Angelis, Patricia]

See USDA Press Release. Of interest..."Pine chips will be the feedstock
source for the Cool Planet facility, but the company can use almost any
type of renewable cellulosic material." There will be three refineries in
Louisiana - I'm wondering where the wood comes from...?

Patricia S. De Angelis, Ph.D.
Botanist, US Fish & Wildlife Service-Division of Scientific Authority
Chair, Plant Conservation Alliance-Medicinal Plant Working Group


---------- Forwarded message ----------
From: USDA Office of Communications <usda at public.govdelivery.com>
Date: Fri, Oct 3, 2014 at 1:32 PM
Subject: USDA Guarantees $91 Million Investment in Innovative Louisiana
Biofuel Plant
To: Patricia_DeAngelis at fws.gov


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Release No. 0221.14Contact:Weldon Freeman (202) 690-1384 USDA Guarantees
$91 Million Investment in Innovative Louisiana Biofuel Plant *Unique
Partnership Will Create Jobs, Produce Advanced Domestic Fuel and Reduce
Greenhouse Gases*



BATON ROUGE, La., Oct. 3, 2014 – Agriculture Secretary Tom Vilsack today
announced a $91 million loan guarantee to help finance an innovative
advanced biofuel plant in Rapides Parish, Louisiana.

 "This partnership is the latest example of the Obama Administration's
continuing support for innovative, home-grown energy sources," Vilsack
said. "USDA's support for renewable energy projects like this helps create
jobs in rural areas, promotes U.S. energy independence, and leads to
further expansion of the growing and increasingly significant bioeconomy."

 USDA has reached an agreement with Silicon Valley Bank to provide a $91
million Biorefinery Assistance Program
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loan guarantee to Cool Planet to help the company finish construction on a
biofuel plant at the Port of Alexandria in Louisiana.

 In addition to USDA's contribution, Cool Planet has attracted private
investments from numerous companies, including Google Ventures, BP,
ConocoPhillips, GE, Exelon and NRG Energy. Cool Planet will be contributing
$50 million in equity to the project. USDA's agreement with Cool Planet
represents a significant step forward in the government's public-private
partnerships to produce renewable energy. As evidenced by Cool Planet's
private sector backers, these plants are attracting attention from some of
the country's largest lenders, in part because USDA is streamlining the
Biorefinery Assistance Program process.

 The Cool Planet facilities will produce approximately 8 million to 10
million gallons of reformate per year at full capacity. Often referred to
as a "drop-in" fuel, reformate is an ingredient in gasoline and jet fuel
that can be added during the regular refinery process. Many biofuels, like
ethanol, are fuel additives that are instead blended into a finished
product to oxygenate fuel. Reformate enhances the energy content of
gasoline, diesel, and jet fuel. Pine chips will be the feedstock source for
the Cool Planet facility, but the company can use almost any type of
renewable cellulosic material.

 Another benefit of Cool Planet's facility is that it will produce biochar,
a bioenergy byproduct that has been noted for its ability to sequester
carbon and potentially reduce atmospheric greenhouse gas levels.

 Early last month, Secretary Vilsack announced that USDA has issued a
conditional commitment on a $105 million loan guarantee to Fulcrum Sierra
Biofuels, LLC to build a biorefinery in Nevada to produce renewable jet
fuel from municipal solid waste.

 USDA has awarded conditional commitments for other plants in Florida,
Iowa, Michigan, North Carolina and Oregon. Sapphire Energy has paid off its
USDA loan for a plant now operating in New Mexico.

 USDA's loan commitment to Cool Planet is being financed from the remainder
of the Biorefinery Assistance Program funds authorized in the 2008 Farm
Bill. An additional project financed from these funds will be announced
later this month. Congress reauthorized and extended the program in the
2014 Farm Bill. It also expanded the program to include bio-based renewable
chemicals and bio-based product manufacturing.

The 2014 Farm Bill builds on historic economic gains in rural America over
the past five years, while achieving meaningful reform and billions of
dollars in savings for taxpayers. Since enactment, USDA has made
significant progress to implement each provision of this critical
legislation, including providing disaster relief to farmers and ranchers;
strengthening risk management tools; expanding access to rural credit;
funding critical research; establishing innovative public-private
conservation partnerships; developing new markets for rural-made products;
and investing in infrastructure, housing and community facilities to help
improve the quality of life in rural America. For more information, visit
www.usda.gov/farmbill
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