INEOS New Planet BioEnergy’s Indian River BioEnergy Center is now the first  large-scale advanced biorefinery facility in U.S. to close financing in latest round of USDA backed financing. The company announced last week that it has closed $75 million in private financing utilizing the USDA loan guarantee program.

The program will use  feedstock-flexible BioEnergy technology, which turns various waste materials into biofuels and renewable energy by using a combination of gasification and fermentation technology.

As part of the government’s goal to replicate the technology, INEOS Bio plans to enter licensing agreements with third parties to build similar commercial bioenergy plants around the world.

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