Liquid Resources Secures Financing

Sky Bank, the Ohio Air Quality Development Authority and the U.S. Department of Agriculture partner to offer company a $700,000 bond financing package.

Liquid Resources of Ohio LLC has executed a $700,000 bond financing package made possible by a partnership between Sky Bank, the Ohio Air Quality Development Authority (OAQDA) and the U.S. Department of Agriculture (USDA).

Through this financing, Liquid Resources becomes Ohio's first new generation ethanol project. As one of the nation's leading consumers of ethanol, Ohio will now join the ranks of ethanol producers, supplying its own energy needs.

Under terms of the transaction, Sky Bank has purchased a bond issued by
OAQDA, which helps finance projects that improve air quality and energy
efficiency. The authority subsequently lent the proceeds to Liquid Resources,
which will use this capital to purchase equipment for its Medina, Ohio, plant.

Richard R. Hollington III, president of Sky Bank's Greater Cleveland
region, says, "We were pleased to participate in this innovative
financing for Liquid Resources. This transaction provided an attractive
opportunity for us to bring together the capabilities of state and federal
agencies with those of our bank to meet the needs of an important, emerging

company."

"Ohio is one of the largest consumer states for ethanol," Mark R.
Shanahan, executive director of OAQDA, says. "We are excited to help Liquid
Resources get ethanol production started here again. Efficient elimination of
waste products is an added bonus." Shanahan notes that Liquid Resources,
which produces ethanol from liquid waste streams, is the first Ohio company to
produce this fuel in many years.

USDA Rural Development is providing credit enhancement in the form of a
loan guarantee. This is in addition to a $500,000 USDA Rural Businesses -

Cooperative Services grant awarded to Liquid Resources in August, 2003. The
grant was funded by a $21.2 federal program for projects that increase energy
efficiency and use of renewable energy resources. "Rural Development has been working with business entrepreneurs over the last three years to help bring a project like this to Ohio," Rural Development State Director Randy Hunt says.

"This public-private partnership is a winner," Tim Curtiss, CEO and
co-founder of Liquid Resources, says. "The deal demonstrates how government and industry can work together to promote business and create jobs. It's another step toward maintaining a cleaner environment and reducing America's dependence on foreign oil. Our company is grateful for the comprehensive support we've received from federal, state and local officials, as well as from Sky Bank. This financing is a major step forward on our growth plan."

Curtiss also thanks Gov. Bob Taft's Department of Development and Sen. George V. Voinovich for their help in initiating and coordinating discussions among the various parties. "Establishing ethanol production in Ohio, the third largest market for this fuel in the U.S., has been a major goal for this state," he says. "Both leaders and their teams have made important contributions to the success of this partnership."

Liquid Resources provides destruction services to consumer product and industrial companies, processing packaged and bulk liquids and recycling the aluminum, glass and plastic packaging materials.

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