SILVERADO GREEN FUEL INC. FEATURED IN
THE CHOCTAW PLAINDEALER
COUNTY MOVING FORWARD WITH SILVERADO AGREEMENT
BY LAURA SANDIFORD
Applying for a Capital Access Program (CAP) Loan will serve as the first major step taken by Choctaw County Supervisors to move forward with the agreement between the County and
Silverado Green Fuel.
After signing a memorandum-of-understanding in late December, the Board of Supervisors approved a motion to apply for a CAP Loan from the state that is not to exceed $1 Million. Silverado Green Fuel will repay the CAP Loan, an Alaskan based company, which will locate and operate a low rank coal-water fuel (LRCWF) demonstration commercial plant on approximately 14 acres in Choctaw County at the Red Hills Eco Plex.
In the agreement the County is responsible for building the outer shell of the facility and Silverado will provide the base foundation for the structure. The shell of the building may not
require the total $1 million, and the county will only request the amount it needs from the state once it is approved. As part of the agreement, Silverado Green Fuel will hire at least 45 employees and give precedence to Choctaw County applicants.
Silverado will create a demonstration facility with the objective of turning coal, mined by Red Hills Mine, into a stable liquid fuel. The LRCWF created through the process is said to be the answer to America's energy and oil crisis.
According to Garry L. Anselmo, President of Silverado Green Fuels, developing a useable alternative fuel product will lead to less dependence on crude oil.
The project entails expenditures of $26 million over a period of three years with Silverado Green Fuel Inc. (SGF) investing an initial $13.1 million in machinery and equipment upon completion of a facility.
The construction phase of the project is scheduled to take 24 months once it begins. The board approved the application process during a meeting on Monday, July 2. They anticipate
approval of the CAP Loan in approximately 60 days and will then move forward with building the structure.
The Company will make its first monthly lease payment to the county within 15 days of completing the CAP loan project, meaning that the County will not have to invest local funds into repaying the loan. Once the CAP loan debt service is satisfied, the County agrees to sell the facility to SGF for no more than $100 if the company wishes to purchase the facility.
Lightning cracks the blackened sky,
Hear the thunder chariot ride
All brave men with hearts of war
Ride the path of mighty Thor
