New plan for bioethanol plant in North Dakota

New Energy Investors, a clean energy investment firm, is planning to develop a new cellulosic ethanol plant in North Dakota, US, according to media reports.

The plant will produce 13 million gallons of cellulosic ethanol per year, the Bismarck Tribune reported.

"What attracts us here is we believe North Dakota has good policy to support us," Thomas Corle, New Energy co-founder and partner told the media outlet.

He added: "The investment community here seems focused on agricultural products and generating new revenues back to the farm."

Corle said the city of Jamestown has also been supportive of the project. "We certainly want North Dakota to partner in this project with us," he said.

The company is asking the North Dakota Agricultural Products Utilization Commission for $125,000 for a three-month feasibility study. Corle said the study would be to reassure potential investors.

"We don't foresee any roadblock," he said, adding that the company has had a lot of investor interest thus far, but no committed investments.

He said that after the study, the company expects permitting and engineering to take about a year to complete.

The company plans to get its feedstock from a 50-mile radius that stretches west to Tappen, south to Edgeley, north to Carrington and east to Buffalo.