Sweetwater Energy raises $9m for first of two sugar processing facilities

In New York, Sweetwater Energy has raised $9m in investment from its first financing round for its first sugar processing facilities. The company expects to have at least two of these facilities operational by 2013, producing 24,000 tons of sugar annually, which can produce approximately 3.4 million gallons of ethanol per year. A pilot facility is expected to be completed by March, with a demonstration facility operational by the 4th quarter. The funding from this financing round came from diversified sources, but included many of the company’s upper management.

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