Missouri soybean, biodiesel plants receive funding

By Erin Voegele | November 13, 2008
Web exclusive posted Dec. 1, 2008 at 5:26 p.m. CST

Moberly, Mo.-based Producers' Choice Soy Energy LLC has received a $9.5 million construction loan from Advantage Capital Partners, a venture capital and small business finance firm. The loan was made possible through state and federal tax programs, including the Missouri New Markets Development program, that are designed to stimulate growth in underserved communities.

The funding will be used to support the construction and operational needs of a soybean processing plant and 5 MMgy biodiesel production facility. The soybean crush will process up to 250 tons of soybeans per day for use in biodiesel processing. In addition, 65,000 tons of extruded soybean meal will be produced annually.

According to Louis Dubuque, Advantage Capital Partners' managing director, construction on the facility is expected to be completed in February.

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