Local Mississippi newspapers report that the state legislature has approved a $100 million bond package for Israel's HCL Cleantech Inc. to build four plants to turn wood chips into cellulosic sugars that can be used in pet foods, cosmetics, lubricants and other products.
HCL Cleantech was founded by Professor Aharon Eyal. The company has offices in Herzliya and North Carolina.
The papers say that HCL CleanTech will move its headquarters from Oxford, North Carolina, to Olive Branch, Mississippi, and that it will build four plants in areas with plentiful supplies of pine trees. The first processing plant is due to open in 2012, and three larger plants in 2015, 2017 and 2019.
The $100 million bond package for the HCL CleanTech project includes a $95 million loan for equipment and buildings, plus $5 million for training, infrastructure or other equipment.
Published by Globes [online], Israel business news - www.globes-online.com - on September 4, 2011
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