Suomen Bioetanoli looking for new investor as Chinese fail to secure funding

In Finland, Suomen Bioetanoli is on the lookout for a new investor willing to fill the EUR200 million funding gap Chinese investors left after pulling out of a straw-based ethanol plant years into development. The facility was meant to be built at UPM’s shuttered paper factory in Myllykoski but now the company has begun moving forward with demolition, so should the project be resuscitated, a new location will need to be found. Financing was meant to be finalized in March but the Chinese investors couldn’t secure the funding and notified the project developers in early July.