Iowa Power Fund awards $2.5M to SynGest bioammonia project

December 13, 2010 |

In California, SynGest announced that the Iowa Power Fund and Iowa Office of Energy Independence have awarded $2.5 million for the design and engineering stage of a biomass ammonia facility to be built and operated in Iowa.  One requirement of the contract is evidence that SynGest has raised an additional $3.5 million in new cash equity.

The bioammonia plant being designed under this project is estimated to eventually create 360 skilled constructions jobs and 40 full-time direct employees.  Purchasing, handling and transportation of the biomass and sales of ammonia, and ancillary support services could generate up to an additional $10 million of new income to the nearby communities.  The plant under design would use 130,000 tons of biomass per year to manufacture 50,000 tons of BioAmmonia annually, enough to fertilize 500,000 acres of nearby Iowa farmland under corn.

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