In June, SynSel visited a site in Cairo, IL for future development. It was decided that the Louisville, Mississippi project would be funded after the Cairo project.
In July, the technology licensor visited Grand Rapids with their engineering firm and approved Grand Rapids as a qualified site for a biorefinery.
In August the technology licensor and engineering firm visited Ontonagon for a second time. The project was approved for funding and initial permitting & engineering activities were authorized. The Cairo, IL plant was also authorized for development. The Cairo plant will be approximately twice the size and output of the plants in Ontonagon and Grand Rapids.
In September the initial construction funding estimate increased from $300 Million to $400 Million, and the construction schedule increased from 3 years to 4 years. Due to the increased budget and schedule, the project was pulled from underwriting by the Construction Financier.