TORONTO, April 22, 2021 /PRNewswire/ – The BDO Zone Investment Coalition today announces the mobilization of $1BB of capital for deployment into biobased infrastructure and manufacturing plants located in Bioeconomy Development Opportunity (BDO) Zones.
The BDO Zone Investment Coalition is a group of leading, independent biobased investors, capital markets, and associations that finance or promote the development of biobased projects that produce alternative ground and sustainable aviation fuels, renewable chemicals, bioenergy, and biogas.
BDO Zones are areas in both the U.S. and Canada with sustainable surpluses of biomass feedstock, strong capability, and appetite for biobased development and solid infrastructure to support new manufacturing plants. BDO Zones located in the U.S. are economically distressed regions where new investment is eligible for powerful federal tax incentives such as the New Market and Opportunity Zone tax credits.
BDO Zones undergo rigorous and extensive due diligence using a framework of over 100 standardized, transparent and validated risk indicators developed by Idaho National Labs and supported by the U.S. Dept. of Energy (BETO) and Natural Resources Canada. “AA” or “A” BDO Zone ratings create a powerful signal to investors and developers that these economically disadvantaged zones are primed for biobased investment and low risk deployment of clean energy infrastructure.
The BDO Zone Initiative has a “1,000 BDO Zones In 4 Years Plan” to catalyze biobased investment and infrastructure development, strengthen energy independence efforts, create jobs, and contribute to long term prosperity.
Jordan Solomon, Chairman of the BDO Zone Initiative and CEO of Ecostrat says: “The BDO Zone Initiative enables communities to pull forward green technology into their region, support creation of new markets for biomass, and do so in a way that builds more domestic opportunity.
BDO Zone designations are force-multipliers for local communities to leverage their biobased assets– agricultural residues, wood fiber, food and farm waste– as engines for clean energy infrastructure and job creation.
The availability of $1BB of development capital will further de-risk and attract new energy infrastructure and biobased manufacturing plants to the areas where they are most likely to succeed and where they will have the greatest social impact.”
Rina Singh, Executive VP of Alternative Fuels & Chemicals Coalition (AFCC) says: “BDO Zones are hotbeds for alternative fuel and renewable chemical manufacturing facilities: sustainable feedstock surpluses, strong supply chain capability, community appetite for biobased development, and powerful tax incentives to derisk investment make BDO Zones some of the optimal places in the world for biobased economic development.”
About the BDO Zone Investment Coalition: The BDO Zone Investment Coalition is a group of key North American biobased investors and capital market participants with a collective goal of investing $1 billion in new renewable chemical, sustainable aviation, ground transportation fuels, and biogas manufacturing plants located in BDO Zones.
About the BDO Zone Initiative: The BDO Zone Initiative is a certification and regional risk rating program that enables economic development agencies and communities to effectively and credibly disclose biomass feedstock-related risks and promote biobased development opportunities to developers and investors around the world. The BDO Zone Initiative is led by Chairman Jordan Solomon of Ecostrat and the Alternative Fuels and Chemicals Coalition (AFCC).
SOURCE Ecostrat Inc.