$1.2b funding facility for BioJet
BioJet International, a supply chain integrator in renewable jet fuel and related co-products for the aviation and transportation sectors, has received a $1.2 billion (€880 million) funding facility from Cayman-based Equity Partners Fund SPC. The funding structure is a three-year facility; further terms of the funding were not disclosed.
The funding agreement will allow BioJet a significant source of capital for its supply chain capital projects programme, including feedstock and refining projects, as well as investment and strategic acquisitions.
'This funding agreement with Equity Partners will form the cornerstone of BioJet capital projects and accretive EBIDTA positive acquisitions over the next five years,' comments BioJet's chairman Mitch Hawkins.
'It enables a clear path to the expansion of our camelina, jatropha, and algae feedstock projects, as well as our Avia renewable jet refining projects in Latin America, Asia, and Europe. We will also be seeking acquisitions of listed companies which can add value geographically and strategically.'