U.S.D.A. Giving INEOS Bio $75 Million Loan To Make Ethanol From Waste

INEOS New Planet BioEnergy — a joint venture between the biofuels division of the chemicals company INEOS, and waste management and biofuel facility consultants New Planet Energy — secured a $75 million loan guarantee from the U.S. Department of Agriculture's Biorefinery Assistance Program , the government agency confirmed today. The company plans to use the money to construct and begin running a facility near Vero Beach, Florida that primarily turns waste into ethanol. According to a company statement, the BioEnergy Center should begin commercial biofuel production in 2012, providing 175 temporary construction jobs, and 50 additional full-time jobs once the facility is completed...