ClonBio, an Irish agribusiness firm with global operations, is planning to invest $500m in a biorefinery plant in Jefferson, Wisconsin.
The group has already invested the first $100m in the facility, called Aztalan, following the acquisition of the moth-balled plant in 2022.
Given incentives in the Inflation Reduction Act, the owners are accelerating their investment program in tandem with an application for a Department of Energy loan guaranteed, the Irish Independent reported.
“It will drive the most efficient use of grain in the history of the United States,” CEO Jeff Oestmann said in a statement. “Every part of the corn kernel is going to be used efficiently to make starch based, fibre based, protein based and fat based foods, feeds, and fuels, thereby promoting the circular economy and maximizing food security,” he added.
Company representatives did not respond to requests for comment.
