The cost to build, commission and start-up this facility is expected to be about $232m, 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.
Valero provides the majority of the financing, and the remainder will be financed from awards by the US Department of Energy 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.
The Kinross facility will use Mascoma’s proprietary consolidated bioprocessing technology platform, which has been developed by Mascoma over the past five years, to convert hardwood pulpwood into ethanol.
