Startup for Major Canadian Biomass-to-Ethanol Plant
15 November 2004
MEMS USA, and Accelon Energy Systems have created Can-Am Ethanol, a joint venture to create, build and run a major biomass-to-ethanol processing plant in Canada. MEMS USA is the prime contractor on a cost plus basis. The design, engineering and construction portions of the project are budgeted at approximately $140 million. The plant is intended to have an output of some 160,000 gallons of ethanol per day (approximately 606,000 liters per day).
Canada is already in the process of supporting the quadrupling of its ethanol production capacity from its current level of some 200 million liters per year to approximately 1 billion. Earlier this year, the Government of Canada announced financial support for 7 ethanol production projects (using grain as a feedstock) with combined capacity of 750 million liters.
Canada also has instituted a National Biomass Ethanol Program that will provide up to $135 million to firms planning to build or expand a biomass fuel ethanol plant in Canada and use biomass materials as feedstock—which certainly fits the profile of Can-Am Ethanol.
Should the Can-Am Ethanol plant come to fruition, its some 220 million liter annual capacity would make it one of the top ethanol producers in the country.
LOS ANGELES -- MEMS USA, Inc. (OTCBB:MEMS), today announced an investor conference call to be held at 4:15 p.m. Eastern Standard Time on Monday, April 25, 2005. MEMS USA's President, Dr. James Latty, will host the call.
MEMS USA, Inc., a California-based professional engineering and technical services company, recently (February 8, 2005) announced that British Columbia will be the site of the first Can-Am Ethanol One biomass-to-ethanol processing plant. Can-Am Ethanol One is an equal partnership between MEMS and Accelon Energy Systems, a Canadian corporation which has been formed to design, engineer, build, own, operate and maintain the biomass-to-ethanol processing plant in British Columbia. The budget for this project is USD$150,000,000.
Merrill Lynch has committed to assist the Company in analyzing, structuring, negotiating and securing debt financing for Can-Am Ethanol One. In that capacity, the Global Investment Markets & Investment Banking Department of Merrill Lynch will function as financial advisor in lease negotiations and financial structuring and as senior manager or placement agent for any offering of debt securities sold by or on behalf of the Company.
Posted by: pm | 14 December 2005 at 01:43 PM