Date: February 9, 2011
Source: INEOS New Planet BioEnergy
INEOS New Planet BioEnergy, a joint venture between New Planet Energy and INEOS Bio has started the construction of its first US-based commercial scale plant to generate sophisticated biofuels from waste. Once complete in mid 2012, the $130 million Indian River BioEnergy Center in Vero Beach, FL will produce 8 million gallons of ethanol per year together with 6 megawatts of renewable power from biomass including yard, vegetative and wood wastes and municipal solid wastes (MSW). It is the first project to use INEOS Bio's patented technology that employs naturally existing bacteria to convert gases released directly from biomass (syngas) into bioethanol. Last month, the joint venture received a $75 million loan guarantee for the Indian River project from the U.S. Department of Agriculture's 9003 Biorefinery Assistance Program.
See also: "Obama Administration Gives More Than $600M in Loan Guarantees to 4 Biofuel Companies," (www.wasteinfo.com/news/wbj20110125C.htm).
See also: "Joint Venture Awarded $75 Million Loan for Waste-to-Ethanol Plant in Florida," (www.wasteinfo.com/news/wbj20110111F.htm).
PRESS RELEASE
INEOS Bio JV Breaks Ground on 1st Advanced Waste-to-Fuel Commercial Biorefinery in U.S.
February 9th 2011
$130 million facility to produce ethanol and renewable power from waste; major first step in INEOS Bio global licensing strategy
Today the Indian River BioEnergy Center officially started construction; it will be the first commercial-scale facility in the United States to manufacture advanced (cellulosic) biofuels using the INEOS Bio gasification and fermentation technology.
Starting in mid-2012, the Indian River BioEnergy Center will produce eight million gallons of bioethanol per annum and six megawatts (gross) of renewable power from local yard, vegetative and household wastes
"Consistent with our goal of enabling sustainable transportation using non-food crop biofuels, we will license this world-changing technology to partners across the US and beyond, bringing secure, renewable fuel and power to communities globally." - Peter Williams, Chairman of INPB and CEO of INEOS Bio.
Vero Beach, Fla. – INEOS New Planet BioEnergy (INPB), a joint venture between INEOS Bio and New Planet Energy, today broke ground on the first U.S. facility to produce advanced biofuels from waste on a commercial scale. The $130 million Indian River BioEnergy Center in Vero Beach, Florida, will convert yard, vegetative and household wastes into cellulosic ethanol and renewable power for the local community. This new facility represents an important step towards achieving more sustainable transportation and greater energy independence.
The Bio Energy Center technology was developed by INEOS Bio, a part of INEOS, the world's fourth largest petrochemicals company. INEOS Bio will license the BioEnergy technology globally utilizing decades of INEOS experience as one of the world's largest licensors of chemical technology.
"We are excited to celebrate this important milestone, which moves advanced biofuels a step closer to achieving significant scale, enabling the US to achieve a leading position in the bioenergy sector." said Peter Williams, Chairman of INPB and CEO of INEOS Bio. "As part of our goal of advancing the biofuels industry, educating people about the benefits of this technology and creating more marketplace demand for advanced biofuels, we will continue to license this world-changing technology to partners across the US and beyond, bringing secure, renewable fuel and power to communities worldwide."
When production starts in mid-2012, the Indian River BioEnergy Center will produce eight million gallons of bioethanol and six megawatts (gross) of renewable power, of which approximately two megawatts will be exported to the local community. This renewable electricity will be able to power approximately 1,400 homes. Located at a former citrus processing plant site in Vero Beach, Florida, the BioEnergy Center will provide 380 direct and indirect jobs (including 175 construction jobs) over the next two years, and 50 full-time jobs in Indian River County where, current unemployment is at 13.6 percent, the 6th highest in the state .
"We have received strong support from the Federal and State Government and are pleased that this BioEnergy Center will bring significant economic and environmental benefits to the region," said INPB President David King. "Our goal is to not only create a local source for advanced biofuels and renewable energy, but also to enable people world-wide to learn about this exciting, new clean energy technology."
In addition to support from the State of Florida in the form of a $2.5m grant, the BioEnergy Center has received significant support from the U.S. government as part of its ongoing effort to reduce U.S. dependence on foreign oil, spur the creation of the domestic biorefining industry and provide new clean tech jobs throughout the country. In late 2009, the project received a $50 million Grant from the U.S. Department of Energy as part of its Section 932 Integrated Biorefinery program and it will be the first large-scale commercial project awarded under this program to begin construction. More recently, the project received a conditional commitment for a $75 million loan guarantee from the U.S. Department of Agriculture as part of its Biorefinery Assistance Program.
The Indian River BioEnergy Center will be the first commercial scale project in the world using INEOS Bio's patented technology. Using naturally occurring bacteria, the technology is able to convert gases derived directly from biomass into bioethanol. Unlike other technologies that rely on one primary source of feedstock, the INEOS Bio process can produce ethanol and renewable energy from numerous non-food feedstocks, including construction and municipal solid waste, forestry and agricultural waste. This flexibility also allows facilities like the Indian River BioEnergy Center to be built anywhere in the world, wherever there is waste, providing jobs and locally sourced renewable energy for urban and rural communities.
For more information, contact:
INEOS Bio
Dan Cummings, biopress@ineos.com.
Helen McClenahan hmclenahan@webershandwick.com.
Suraya Akbarzad sakbarzad@webershandwick.com.
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