AltraBiofuels Inc, Los Angeles CA, has secured an additional $165.5- million of debt financing for the construction and completion of two ethanol production facilities located in Coshocton OH and Cloverdale IN.
The facilities are expected to be completed in the fourth quarter of 2007 for Ohio and early in the second quarter 2008 for Indiana. The Coshocton plant capacity is anticipated to reach 60 MMPY (million gallons per year) while the Cloverdale Indiana plant is expected to reach 100 MMPY.
AltraBiofuels plans to process corn but facilities are designed to be upgraded to cellulosic technologies.
AltraBiofuels also is advancing several other projects including, the upgrading of its Goshen CA facility, as well as, the construction of another major ethanol plant located in Carleton NE.