Financial Troubles Cut Work at Boardman Biofuels Plant - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Financial Troubles Cut Work at Boardman Biofuels Plant

Posted: Updated:
Credit: The Oregonian Credit: The Oregonian

BOARDMAN, Ore. - A company planning an ethanol refinery in Boardman is laying off workers while it tries to raise money.

The Colorado company, ZeaChem Inc., says financial troubles began weeks after it announced it had created ethanol from sawdust at a demonstration plant in Boardman.

The company hopes to build a commercial refinery for nearly $400 million. It has already gotten $37 million in grants from the federal government, as well as a $235 million loan guarantee.
    
The company's CEO says it is a temporary setback and would not say how many workers were laid off.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KHQ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.