The company will receive a five hundred thousand dollar line of credit from a group of its existing shareholders.
The manufacturing plant to be located in Cordele, Crisp County will produce green energy bio-coal for use in existing coal fired power plants.
The location will provide the company tax abatements, and various job credits.
Vega also signed an agreement with the timberland management company, Timber Group, to provide raw timber waste to the manufacturing facility.
