ANNOUNCEMENT 03 Oct 2014In October 2014, the government of the United States of America announced a change in private-sector financial support.
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The U.S. Department of Agriculture announced on October 3, 2014 a $91 million loan guarantee to help finance an advanced biofuel plant in Louisiana. The assistance is provided via an agreement with Silicon Valley Bank to provide a $91 million Biorefinery Assistance Program loan guarantee to Cool Planet to help the company finish construction on a biofuel plant at the Port of Alexandria. The Cool Planet facilities, which are also supported by private capital, will annually produce approximately 8-10 million gallons of reformate (an ingredient in gasoline and jet fuel that can be added during the regular refinery process). The product in question is potentially tradeable.