Panda Ethanol completes $188 million financing for manure-to-ethanol facility
March 31, 2008 by Manure Manager
Panda Ethanol Inc’s Hereford
subsidiary has successfully completed the debt financing for its 100
million gallon ethanol plant in Hereford, Texas.
Panda Ethanol Inc’s Hereford subsidiary has successfully completed the debt financing for its 100 million gallon ethanol plant in Hereford, Texas. The company will immediately begin facility construction on the 380-acre site and anticipates ethanol production to commence in the second half of 2007.
The first-of-its-kind facility will generate the steam used to manufacture ethanol by gasifying more than one billion pounds of cattle manure a year, making it one of the most fuel efficient ethanol refineries in the nation. Once completed, it will be the largest biomass-fueled ethanol plant in the United States.
“We are very proud of this project,” said Todd Carter, chief executive officer at Panda Ethanol. “It is an important first step for Panda Ethanol and a step in the right direction toward making our country less dependent on foreign oil.”