Coskata negotiating a sweet deal with Sugar, Closes Series C

U.S. Sugar Corp. and the cellulosic ethanol startup say they have entered into an agreement to look into building a 100 million gallon per year cellulosic ethanol facility in Clewiston, Fla., that will convert leftover sugar cane into ethanol. U.S. Sugar has been in the process of selling much of its land in the Everglades to the state of Florida so that it can be restored, and Florida Governor Charlie Crist has also endorsed building ethanol plants on the land as a way to keep jobs in the area. Coskata and U.S. Sugar have been negotiating a potential deal for a $400-450 million ethanol plant for several months, but they’ve been waiting for the state to work out the contract for purchasing the land from US Sugar.

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