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Biorefinery Asks Grand Forks County to Help It Sell $80 Million in Bonds

Agriculture/Food Processing Residues nonfield crop, BioRefineries, Business News/Analysis, Feedstocks, Field/Orchard/Plantation Crops/Residues, Funding/Financing/Investing, North Dakota, Sustainability
February 8, 2018
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by April Baumgarten  (Grand Forks Herald)  … The Grand Forks County Commission approved during a Tuesday meeting a resolution that sets the stage for a public hearing for the Red River BioRefinery bond. The $80 million bond has not been approved, but if the commission does say yes, the county would facilitate selling the bonds for the company. The bonds also would be tax-exempt.

A subsidiary of the Wisconsin-based renewable energy company BioMass Solution, Red River BioRefinery plans to build an 80,000-square-foot facility on an 11-acre plot of land north of Simplot, according to a Grand Forks city staff report. The company will use biological waste from food processors in the region—for example, waste from sugar beets and potatoes—and turn it into ethanol, said Keith Lund, president and CEO of the Grand Forks Region Economic Development Corp. It then would sell the ethanol in Canadian and Californian markets, according to the report.  READ MORE
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BioRefineriesbondsethanol/bioethanolFinancingfood processing wasteNorth DakotapotatoSugar Beets/Energy BeetsSustainability
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