Lignol and Suncor cancel cellulosic ethanol plant
Lignol Energy and Suncor Energy have cancelled their $80 million (€61.6 million) cellulosic ethanol plant in Grand Junction, Colorado, US.
The Canadian companies have backed out given the instability of energy prices, the uncertainty in the capital markets and overall poor market conditions.
Lignol and Suncor announced the partnership in October 2008.
The plant had been announced earlier in the year in conjunction with a $30 million grant from the US Department of Energy (DoE).
The company is talking to the DoE about the grant and the project, focusing on new project time-lines, locations, and partners, Lignol’s president and CEO Ross MacLachlan says.
The Canadian companies have backed out given the instability of energy prices, the uncertainty in the capital markets and overall poor market conditions.
Lignol and Suncor announced the partnership in October 2008.
The plant had been announced earlier in the year in conjunction with a $30 million grant from the US Department of Energy (DoE).
The company is talking to the DoE about the grant and the project, focusing on new project time-lines, locations, and partners, Lignol’s president and CEO Ross MacLachlan says.
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