San Francisco-SynGest Inc. reports that the Iowa Power Fund and Iowa Office of Energy Independence are in final negotiations for a $2.5 million contract for the development and commercialization of SynGest’s bioammonia production technology in the state of Iowa. The award is subject to final contract negotiations, board approval, and contract execution. The contract would provide a grant in the amount of $2.5 million, subject to the terms of the contract. One requirement of the contract is evidence that SynGest has raised an additional $3.5 million in new cash equity for the design and engineering stage of a biomass ammonia facility to be built and operated in Iowa. The plant will use 130,000 st/y tons of corn cobs to manufacture 50,000 st/y of anhydrous ammonia to fertilize 500,000 acres of corn farmland.
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