San Francisco-Syngest Inc. has received a $2 million loan from the Iowa Development Board for the development of a $102 million corn cob-to-anhydrous ammonia plant near Menlo, Iowa. Syngest said this was wonderful news and a vote of confidence from the state. It said the total award amount, with tax credits and other incentives, is five-to-six times larger than anything the state has done in this category. Syngest is also seeking $2.5 million from the Iowa Power Board and a $50 million grant from the U.S. Department of Energy. The project could also qualify for $805,472 in state tax credits based on the capital investment. The plant expects to produce 50,000 st/y of ammonia using some 130,000 st/y of corn cobs. Syngest expects the plant to create 40 jobs, most of which will pay at least $13.30 per hour. It will source the cobs from local farmers.
Transparency Across the Fertilizer Value-Chain