Press for Disruptive Technology
Mascoma Corporation, a renewable fuels company, announced today that it has entered into definitive agreements with Valero Energy Corporation, the nation’s largest independent oil refiner and a leading ethanol producer, to develop and operate a first-of-its-kind 20 million gallon per year commercial-scale cellulosic ethanol facility in Kinross, Michigan. The cost to construct, commission and start-up this facility is expected to be approximately $232 million, based on current external engineering estimates, and includes certain up-front infrastructure costs that will enable the expansion of the facility to 40 million gallons per year. These costs are fully funded, with Valero providing the majority of the financing, and the remainder from awards by the U.S. Department of Energy (DOE) and the State of Michigan. Construction of the Kinross facility is anticipated to start in the next three to six months and is expected to be completed by year-end 2013.
Sunborne Energy, a Haryana-based solar power developer backed by General Catalyst Partners and Kosla Ventures, is contemplating setting up a 50-Mw solar thermal power project in Andhra Pradesh involving an investment of between Rs 500 crore and Rs 600 crore (including land cost).
The company has already acquired 200 acres of land in Andhra Pradesh and is now trying to work it out with the state government to set up the plant.
Hemant Taneja, the venture capitalist who helped create the New England Clean Energy Council in 2007, is involved with a new trade group that makes its debut this week: the Advanced Energy Economy. The Washington- and Palo Alto- based organization hopes to knit together state and regional associations, and serve as a new national voice for the cleantech industry.
Solar projects developer SunBorne Energy has joined hands with Europe-based IPP Eoxis Energy for executing a 15 MW solar photovoltaic (PV) project being built in Gujarat, the company has said in a statement on Wednesday. This project marks Eoxis’ first investment in the country.
The project is expected to be operational by December 2011 and falls under the solar programme of Gujarat.