Zilkha Biomass completes $59.8 million refinancing of local mill
Published 10:10 pm Tuesday, October 9, 2018
Zilkha Biomass Fuels I LLC announced on Friday, Oct. 5 the completion of a $59.8 million refinancing of the Zilkha Biomass Selma, LLC pellet mill operation. The refinancing was completed on Sept. 14.
The company will use the funds to place the mill back in operation to produce Zilkha Black Pellets for the power industry worldwide, according to a release from Zilkha Biomass Fuels.
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“Pellets are a biomass-based fuel used as a direct substitute for coal to support power plant operations and production of renewable energy,” according to the press release.
Pellets are a biomass-based fuel used as a direct substitute for coal to support power plant operations of renewable energy.”
Commercial operation will start in the first quarter of 2019 along with the available purchase and delivery, according to Larry Price with Zilkha Biomass Fuels.
Zilkha Biomass Selma LLC will be the only large volume commercial mill producing black pellets worldwide.
In addition, Zilkha Biomass Fuels I LLC, the parent company of the Selma mill, is seeking operators worldwide who will utilize the patented Zilkha Black Pellet technology in the US and abroad to supply the growing renewable energy markets, Price said.
Zilkha Biomass Fuels I LLC is a subsidiary of NextGen Black Pellets LLC and is headquartered in Houston, Texas.