New Energy Capital provides equity for biodiesel plant

By | October 01, 2005
New England-based New Energy Capital, along with other investors, has provided equity capital for Mid-Atlantic Biodiesel Company LLC, a 5 mmgy, $10 million biodiesel plant that broke ground in July in Clayton, Del. The facility will use virgin soybean oil, waste vegetable oils and animal fats as feedstocks. Fagen Inc. of Granite Falls, Minn., is constructing the facility. Mid Atlantic Biodiesel also received financial help from Greater Atlantic Bank of Reston, Va., the USDA and the state of Delaware. It is the first large-scale biodiesel plant in the Northeast.
 
 
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