Co-op Biodiesel Factory Project Needs Final $850K

The member-owned co-op that’s trying to build a $4.2 million biodiesel factory in the Greenfield [MA] Industrial Park is racing toward a June 1 deadline on construction bids to raise what it says is the final $850,000 for the project that has been in the works for more than 10 years.

Two-thirds of the Northeast Biodiesel factory, on a 26.5-acre Silvio Conte Drive site, is complete, and some of the 475 members of the Hatfield-based Co-op Power Energy Cooperative have stepped forward in the past month with $500,000 in new loan commitments toward the final $1.3 million in financing.

“Assembling the financing for Northeast Biodiesel from the ground up has been a long haul,” said Lynn Benander, chief operating officer of co-op. “This is a very serious moment for us ... But we’ve made tremendous progress in the past year and are ready to get the plant finished if we can clear this final hurdle in time.”

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