AE Biofuels, Inc. (AEBF) Subsidiary Closes Additional $3.5 Million Financing
Yesterday, AE Biofuels, Inc. announced that their wholly-owned advanced ethanol subsidiary AE Advanced Fuels Keyes, Inc. (AE Keyes) closed a $3.5 million financing with Third Eye Capital Corporation. They will use the funds to restart and operate a 55 million gallon per year ethanol plant located in Keyes, California. In November 2010, AE Keyes received $4.5 million from Third Eye Capital to complete the repair and retrofit of the Keyes facility. AE Keyes expects to restart the Keyes plant and be fully operational by late April 2011. They took possession of the facility under a project agreement with Cilion, Inc.…