Synsel securing financing for two $300 million wood-based biorefineries

In Illinois, Synsel hopes to finalize financing in the next few months for two $300 million wood-based biorefineries in Ontonagon, Mich. and Lumberton, Miss. that are meant to produce synthetic gasoline, diesel and aviation. The Ontonagon project aims to repurpose the mothballed Smurfit-Stone Paper Mill that was closed in 2010 but the Lumberton site was not identified. The licensor of the technology that will be employed at the biorefineries was only identified as a major oil and gas company.