Pacific Biofuels raises $7M for advanced biofuels in the Philippines

In the Philippines, Alta Vista Securities announced they have closed a $7M joint venture for three biofuel plants with Pacific Biofuels.  Each plant will have a capacity to process 80,000 tons of agricultural waste per year, which will then produce about 37,800,000 liters of total biofuels products comprising of 30,240,000 liters of mixed alcohol and about 7,560,000 liters of LPG.

The three plants will be established to process rice hull and rice straw, bagasse from sugarcane, coconut husk and coconut shell.