10 November 2009
New Venture to Finance Sorghum-to-Ethanol Projects
Posted by John Davis under: Ethanol News; biofuels; Ethanol; News .
A new venture could provide up to $376 million for projects that will turn sweet sorghum into ethanol.
DPG Investments, LLC (DPG) has announced its partnership with EPEC Biofuels Holdings, Inc. (EPEC) to put together a new platform finance company called EPEC Finance, LLC that will fund the manufacture and deployment of EPEC’s proprietary Ethanol Production Units (EPU’s) on select sweet sorghum farms throughout the country:
“Our energy and natural resources team at DPG strongly believes EPEC Biofuels is on its way to becoming a world leader in production and distribution of ethanol, based upon its proprietary processes and proven management team. We are very excited about the future of EPEC and this platform financing joint venture,” said Dan Galvanoni, Chairman of DPG Investments, LLC.
In addition, the new finance joint venture will also serve as a specialty finance and investment company that will seek to provide financing for various strategic acquisitions, partnerships and investments in the renewable energy and biofuels sectors on a global basis. EPEC Finance jointly with EPEC Biofuels will seek to identify such biofuels and alternative energy initiatives that can provide a steady and predictable return on capital investments.
According to EPEC’s Web site, sorghum is 28 times more efficient than corn in producing ethanol. The company also has modular production facilities range in capacity from 500,000 to 3,000,000 gallons per year and produce fuel grade ethanol and valuable by-products.
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