Refining equipment funding available in Ohio

Posted Sept. 29, 2010

The Advancing Biofuels Beyond the Basics program, run by the Ohio Department of Development, is now accepting applications from biodiesel and ethanol companies seeking funding for refining equipment purchases. With $8 million in available funding initially given to the state-run program through the American Recovery and Reinvestment Act, each eligible applicant can receive anywhere from $500,000 to $1 million. To be eligible for the funding, all applicants must be located within the state, invest a minimum of 25 percent of total costs needed for the equipment, "demonstrate completion" within 12 months and also provide a direct economic impact to Ohio.

Governor Ted Strickland understands that combining strengths of the state's agriculture and manufacturing sectors can make Ohio a leading player in biofuels, according to Mark Shanahan, energy advisor to the governor. "Changing the way we produce energy makes our communities more sustainable and creates jobs, and business opportunities," he added.

The applications will be judged on a 150-point scale through four main areas. The first, project readiness, will evaluate the project's evidence to move forward and operate within 12 months. Evidence will include agreements with feedstock providers, engineering documents, equipment quotes or invoices, letters of support from the community and regulatory permit documentation.

The second criteria will be based on the project's financial ability to provide 25 percent of the costs, which can be shown though financial approvals for balance of project cost. The third, economic/employment impacts on Ohio, will be scored based on job creation and retention during construction phase. The last of the four, energy impacts and innovativeness, will look for a biofuel conversion process and performance that is described in detail.

A conference is set for Oct. 6, 2010, for anyone interested in the funding opportunity. To register for the program, email: [email protected].