PelletNews Maine pellet project awarded loan guarantee
The Finance Authority of Maine (FAME) board has approved a $25 million loan guarantee to support a proposed torrefied wood pellet project in Millinocket, Maine. The project is under development by Thermogen Industries, an entity of Cate Street Capital. Thermogen spokesman Scott Tranchemontagne said the guarantee is the last piece of the funding puzzle needed MOVING FORWARD: Thermogen Expects to break ground to move the project forward. its Millinocket plant soon. The proposed facility is shown here He added that the approval in a rendering. is subject to a 30-day public construction beginning as soon as possible comment period, which was scheduled to thereafter. The plant, which will utilize a wrap up in mid-November. The project is unique microwave torrefaction technology also funded by a $26 million private equity investment and $19 million in financing from developed by Scotland-based Rotawave, will initially have a production capacity of the New Market Tax Credit Program. 100,000 tons per year, eventually expanding According to Tranchemontagne, to 0.5 million tons. Thermogen expects to close on all funding sources before the end of the year, with
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Event focuses on export potential, sustainability The U.S. Industrial Pellet Association’s 3rd Annual Exporting Pellets Conference opened Oct. 28 with a blend of optimism and measured pragmatism. The event offered a venue for those in the North American pellet industry to discuss a variety of topics pertinent to their expanding industry, including increasing demand, sustainability requirements and growing pains. More than 500 attendees registered for the event, which was held in Miami. John Bingham, an agricultural economist from U.K.-based Hawkins Wright, noted that wood pellet demand grew at an average annual rate of 23 percent from 2000 through 2013, with demand currently reaching 10 million metric tons per year. Moving forward, Bingham said he sees a market opportunity for nearly 27 million tons of consumption worldwide by 2020, with nearly 20 million of that volume going to Europe.
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Biomass Pelletizing & Energy Systems Pellet Plants | Dryers | Furnaces | Steam Boilers | Thermal Oil Heaters | Cogeneration
Dieffenbacher USA, Inc. 2000 McFarland 400 Blvd. | Alpahretta, GA 30004 Phone: (770) 226-6394 | mail@dieffenbacheratl.com 16 BIOMASS MAGAZINE | DECEMBER 2013
www.dieffenbacher.com