Epec Biofuels gets sweet biofuel sum

In the US, Epec Biofuels Holdings and DPG Investments have established a joint venture to provide funds for biofuels projects.

The two entities have formed Epec Finance, which will provide project financing to Epec Biofuels and select financing initiatives in the biofuels and renewable energy sectors.

Epec Finance will fund up to $376 million (€253.5 million) of project financing for Epec Biofuels. Epec Biofuels will use the funds to manufacture and deploy its proprietary ethanol production units (EPUs) on select sweet sorghum farms throughout the country.

In addition, the joint venture will also serve as a specialty finance and investment company that will seek to provide financing for various strategic acquisitions, partnerships and investments in the renewable energy and biofuel sectors.

The mission of Epec Biofuels is to capitalise on the untapped potential of ethanol production using sweet sorghum using proprietary technology for small farm-integrated ethanol production units.

Each of Epec’s facilities will have a production capacity of approximately 1 million gallons a year.