This is a fund that specifically funds a series of internally owned and operated biorefineries within the San Joaquin Valley, CA — the largest, central, agricultural region in the World; where there is an abundance of feedstock. The company is locating each biorefinery in an Opportunity Zone.
The operations in California are based on Proprietary and Patented Technologies and based on BioEnergy Design’s commercial plant located in Oregon. All testing on 5 different, initial feedstock materials have been accomplished. Testing was performed by Tetra Tech Engineering (an International engineering company with 20,000 employees) which also hired Montrose Engineering to conduct the source testing. This test was designed by those two engineering firms and the San Joaquin Valley Air Pollution Control District to see if the plant would meet California Air Emission Standards. It passed the testing requirements — the strictest air emissions standards in the World — in most cases far exceeded the requirements.
BioEnergy Designs has also tested the resulting carbon and syngas products, successfully tested nut shells and woodchips to make Activated Carbon as well as making transportation fuels out of the syngas.
Each plant is a “cookie-cutter” version, with a plant having sufficient, guaranteed, long-term feedstock supplies every 25-50 miles up and down the Central Valley of California. Each plant requires $32 million in equity and is leveraged with subsidized and tax-free bonds of approximately $100 million additional, that provides an investor IRR of approximately 32%.
This is a very concentrated funding operation, that utilizes advanced technologies; backed by CRADA agreements with Federal Labs to advance further technological enhancements.