USDA Approves $10 Million Loan For Marrone’s Michigan Plant
Marrone Bio Innovations Inc.’s manufacturing plant in Michigan was approved for a $10 million loan from the USDA, reports Mark Anderson of the Sacramento Business Journal. This approval is meant to spur investment in employment-creating ventures in rural communities.
Between buying the plant and the expansion and modifications it is making in Bangor, Marrone Bio is investing total capital expense of $32 million into the plant.
The Davis, CA-based company bought a bankrupt biodiesel plant in 2012 and has converted it into a fermentation and production plant for making Grandevo and Regalia, which are the company’s flagship products.