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Cilion closes on debt financing for ethanol plants
GOSHEN September 10, 2007 9:00am 
• Says $105 Million debt facility will allow it to move to next development phase • ‘Considering the difficult credit environment, this is a great accomplishment’ Biofuels maker Cilion Inc., of Goshen, says it has closed on a $105 million first round of debt financing for the construction of two ethanol plants in California. The debt package will complement previously raised equity of over $200 million, the Central Valley company says.
“Considering the difficult credit environment, this is a great accomplishment, preparing Cilion to move on to the next stage of its strategy,” says Mark Noetzel, chief executive officer of Cilion.
Farm Credit Services of America, MetLife and CoBank were co-lead lenders in the transaction.
Cilion also says that its first ethanol facility in the Stanislaus County town of Keyes is 50 percent complete.
The Keyes plant will produce 55 million gallons of ethanol annually, the company says, making it “the largest producer in the California market when completed.”
Commissioning of the facility is expected in early 2008. Once operational, the facility will employ approximately 30 full-time workers. All the ethanol produced is anticipated to stay in the California market and be blended with gasoline, the company says.
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