Chemical manufacturer receives $213.6 million loan from DOE to build a new facility in Minnesota
Bioforge Marshall LLC has secured a $213.6 million loan through the U.S. Department of Energy’s (DOE’s) Loan Programs Office (LPO). The company, which is a wholly owned subsidiary of Solugen Inc., will use the money to build a new production plant in Marshall, Minnesota. The new 500,000-square-foot facility will manufacture bio-based organic acids for a variety of industries, including concrete, cleaning, agricultural, and energy. The project is expected to generate 56 new jobs for the surrounding area, and production is scheduled to begin in 2025.
What people are saying
In a recent quote, Gaurab Chakrabarti, CEO of Solugen, said, "American manufacturing is at a turning point, and we are proud to have the opportunity to work with the DOE in bringing critical chemical production capabilities onshore to communities like Marshall. By scaling cutting-edge technologies, we are meeting domestic demand for innovative solutions and setting global standards for sustainable biomanufacturing."
Sean Hunt, CTO of Solugen, added, "Scaling our Bioforge platform is not only a technological advancement, but a strategic move to fortify the domestic supply chain for critical chemicals. This project will serve as a model for how innovative technologies can revive American industries and maintain our competitive edge on a global scale."
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DOE in the news
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Investing in American manufacturing in 2024
This map shows where manufacturers are choosing to invest their resources, whether they are building new production facilities or expanding existing plants.