USA - Mississippi

Raven has signed a memorandum of Understanding (“MOU”) with Price Biostock to develop a cellulosic ethanol biorefinery located in the Gulf Opportunity Zone of Mississippi. This 35 acre site offers regional benefits such as favorably lower feedstock and labor costs combined with strong State incentives such as The Gulf Opportunity Zone (GO Zone).

The feedstock to be utilized for the biorefinery will be locally sourced wood and wood waste. In association with the GO Zone initiatives the project plan also includes development groundwork for a cogeneration facility to be undertaken in cooperation with local utilities.

The Gulf Opportunity Zone Act was passed into law on Dec 21, 2005 as an initiative to rebuilding the region devastated by multiple hurricanes (Wilma, Rita and Katrina) in 2005.

The cellulosic biorefinery capacity of this facility will be significant. Planned capacity is 33 million gallons per year (MGPY), based on a projected 21 MGPY of fuel grade ethanol and 12 MGPY of furfural products, plus lignin cake.

Raven has prepared initial implementation to fast track planning to start of engineering and groundbreaking.