May 5, 2014

Green chemicals investment roundup

While investment money being bestowed this year is not as big as those seen in 2008-2010, this is definitely better than nothing, and there seems to be more hope of investors opening up their wallets again.

Last month saw a lot of successful financing announcements. Segetis was able to get $21.2 million in funding from the Iron Range Resources and Rehabilitation Board (IRRRB), a state economic development agency based in northeastern Minnesota.

Segetis plans to construct a commercial-scale plant at the Laskin Energy Park in Hoyt Lakes, Minn., based in their levulinic acid platform. Total project investment is $105 million, 70% of which will be funded by the company. The Segetis project is forecasted to have an annual $55 million economic impact on the region, supporting over 545 jobs, according to an independent study from the University of Minnesota Extension Center for Community Vitality.

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