Ecodiesel makes $3.3 million debt offer to fund expansion of New Zealand tallow biodiesel plant

In New Zealand, NBR is reporting that Ecodiesel is raising $3.3 million to take its tallow biodiesel plant from pilot to commercial scale. The project developers said that they would eventually raise up to $110 million to bring capacity in the Onehunga-based project to 5 Mgy capacity. The company uses animal waste from meat plants. According to NBR, the company is offering unsecured, subordinated, fixed rate convertible debt obligations at 15% with a September 2014 maturity, to fund the project.

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