Banking, finance, and taxes
Syntroleum & Tyson Get Tax-Free Bond Status for Dynamic Fuels Venture (SYNM, TSN)
Published:
Syntroleum Corporation (NASDAQ: SYNM) has announced that Dynamic Fuels LLC, a 50-50 joint venture between Syntroleum and Tyson Foods Inc. (NYSE: TSN), has received final approval from the Louisiana State Bond Commission for $100 million in tax exempt Gulf Opportunity Zone (GO Zone) Bonds.
This will be used to fund the building of the venture’s renewable synthetic fuels facility located in Geismar, Louisiana. This $100 million is the maximum amount that can be granted for a project under policy guidelines adopted by Louisiana’s Bond Commission. The companies are planning on initial production starting in early 2010.
Dynamic Fuels was set up to convert low-grade inedible fats and greases into renewable synthetic diesel, jet and military fuel.
If you are flying a plane in 2011 or beyond and you think you keep smelling fried chicken, you might be a Dynamic Fuels client.
Jon C. Ogg
June 20, 2008
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