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Virginia Welcomes $16M Alternate Energy Investment

01/07/2008
Argonaut BioFuels, a manufacturer of wood pellets, will invest $16 million to retrofit and expand an existing wood chip mill in Bumpass, Virginia. According to the Virginia governor's office, the renovations on the facility should be completed by July of this year, and 65 new jobs are expected at full operations. The new plant, which company officials say is the third-largest wood pellet facility in the United States currently under construction, will produce wood pellets for use in energy production, as well as animal bedding and paper and pulp. Argonaut BioFuels will receive funds from the state of Virginia for rail infrastructure improvements and work force training assistance.

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