Biochemtex will invest about $200 million in its biofuels plant in North Carolina. The company provides renewable chemicals and biofuels throughout the world.
The name of the company, which uses crops that were grown locally, will be Carolina Cellulosic Biofuels. The company will use energy crops, such as woody biomass and agricultural residues, to produce about 20 million gallons of cellulosic biofuel. It will be North America’s first cellulosic biofuel biorefinery on a commercial scale, and it was started in early 2013.
The company is already working with local farmers and farms to receive energy crops. A spokesman believes the business will increase, and there will be more projects where local infrastructure makes that possible.
The One Carolina Fund gave a $300,000 grant based on performance that enabled the project to begin. The fund uses local government agencies to give money to increase local business activity and increase employment. Companies do not have to provide any money of their own first, but they must meet standards that jobs will be performed, as well as investment standards.
