31 May '12, 10pm

Future Fuels nears finance completion for ethanol plant in Grimsby: Future Capital Partners (FCP) have confirmed...

This paves the way for the completion of the plant in North East England which will produce renewable transport fuel and provide 750 jobs for two years with 70 permanent jobs once the plant is fully operational. The un-named lender has agreed to provide £25 million debt finance while also working towards securing the outstanding debt from elsewhere in Europe. It is envisaged that raising the senior debt will be completed within the next few weeks. The project is one of only a few large industrial UK projects to have secured risk bearing project debt in the last three years. The plant itself will be operated by Vireol and will produce ethanol, Renewable Transport Fuel (RTF) and various other products such as high protein animal feed, distillers dried grains and solids (DDGS) and carbon dioxide. Agreements worth over £1.5 billion are currently being finalised for the purchas...

Full article: http://www.renewableenergyfocus.com/view/26108/future-fue...

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