London, UK [RenewableEnergyWorld.com] First Reserve Corporation announced that it has made an equity investment of US $300 million in Osage Bio Energy to fund the construction of four ethanol and protein feed production facilities, primarily in the Southeast U.S.
The facilities funded by First Reserve Corportation could have a differential cost advantage over traditional Midwestern corn-based facilities by using regionally grown barley. Barley is a winter crop that will be grown for the production of ethanol and does not compete for land with food production.
“Osage Bio Energy offers First Reserve the opportunity to build on its existing knowledge and background in the alternative energy sector,” said Glenn Payne, Director at First Reserve Corporation. “The competitive pricing position derived from using a barley-based plant combined with the lack of ethanol supply to the Southeast, makes Osage Bio Energy an attractive investment for us. They are a world class team, using proven technology and a differential business model that is superior to any (of the many) that we have evaluated.”