Corporate Banner
Satellite Banner
AgriGenomics
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Vega Biofuels Completes Interim Funding Package

Published: Monday, March 26, 2012
Last Updated: Monday, March 26, 2012
Bookmark and Share
Company has completed an interim funding package to help fund the design and engineering associated with its South Georgia bio-coal manufacturing plant.

The Company recently announced plans to build a green-energy manufacturing plant in Cordele, Georgia that when completed, will manufacture bio-coal from timber waste. The bio-coal will be made using special technology called "torrefaction."

"We've been working with a small group of existing shareholders the past few months to put together a funding package that will help us with expenses associated with the construction of the plant," stated Michael K. Molen, Chairman/CEO of Vega Biofuels. "This helps tremendously. Things are moving at a very fast pace now and these funds will help us move to the next level much more quickly. The package is designed as a Line of Credit and we are set to receive the first draw in April. The LOC is secured by Promissory Notes and does not dilute the Company's securities. I'm very proud that our shareholders have been so supportive of our efforts. We will have more news about the plant in the next few days."

Torrefaction is a partial carbonization process that takes place at temperatures between 475 - 575o in a low temperature environment which makes the physical and energetic properties of the biomass much more comparable to traditional coal. The biomass is then compressed into briquettes to be sold to the end user. Torrefaction has the added benefit of reducing or eliminating undesirable volatiles, such as nitrous oxides and sulfur dioxides and is considered carbon neutral to the environment.


Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 3,100+ scientific posters on ePosters
  • More than 4,500+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Vega Biofuels Announces Plans for Shipping Bio-Coal to European Power Companies
Company plans to build a manufacturing plant in Cordele, Georgia that will manufacture bio-coal from timber waste. The bio-coal will be made using special technology called "torrefaction."
Monday, March 19, 2012
Scientific News
World’s Largest Coral Gene Database
‘Genetic toolkit’ will help shed light on which species survive climate change.
A Peachy Defense System for Seeds
ETH chemists are developing a new coating method to protect seeds from being eaten by insects. In doing so, they have drawn inspiration from the humble peach and a few of its peers.
Roundup Impacts Gene Expression
Study published on the impact of low-dose toxicity of Roundup weed-killer on gene expression profiles.
Meaningful Part of Maize Genome Defined
FSU-Cornell team show that a small percentage of the maize genome is responsible for 40 percent of a plant’s trait diversity.
Plant Stem Cell Discovery Points to Increased Yields
Braking signals from the leaves tell stem cells to stop proliferating.
Plasma Dose Improves Agricultural Crop Harvests
Researchers at Japan have developed a technique to improve crop yields by treating seeds prior to planting with a safe dose of plasma radiation.
TGAC Installs Largest SGI UV 300 Supercomputer for Life Sciences
The Genome Analysis Centre (TGAC) partners with Global HPC hardware giant SGI to address the most complex problems in genomics analysis.
Carrot Genome Uncovered
Carrot genome paints picture of domestication, could help improve crops.
Flowering Regulation Mechanism Discovered
Monash researchers have discovered a new mechanism that enables plants to regulate their flowering in response to raised temperatures.
Nanoparticles Present Sustainable Way to Grow Food Crops
Nanoparticle technology can help reduce the need for fertilizer, creating a more sustainable way to grow crops such as mung beans.
Skyscraper Banner

SELECTBIO Market Reports
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
3,100+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,500+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!