EcoSystem raises $76 million for acqusition of distressed ethanol plants, add cellulosic capability; aims for 500 Mgy in capacity

In New York, EcoSystem Corporation announced the sale of preferred stock and warrants for $76 million. The company plans on using this money to acquire distressed ethanol production facilities, to acquire other strategically-compatible assets, and to develop and integrate EcoSystem’s Cellulosic Corn™ technologies into EcoSystem’s planned ethanol production facilities.

The corporation said it would develop its plants to improve their efficiency by increasing their production and reducing the cost of the final output.  The securities sale is part of the company’s goal to produce 500 Mgy within three years.

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