Canadian firm backs Buffalo ethanol plant

Corpfinance International Ltd. of Toronto has been engaged by RiverWright LLC, the company developing a $180 million ethanol plant in Buffalo's Old First Ward, to arrange up to $120 million of senior debt finance for the project.

CFI has financed power and alternative energy projects throughout North America.

"RiverWright is very pleased to achieve this critical milestone in its development, especially with such an experienced and prestigious cross-border partner," said RiverWright CEO Greg Stevens. "We continue on track to have our project operating in late 2009."

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Corpfinance International specializes in providing customized medium and long-term structured and infrastructure capital solutions for private and public corporations. The Toronto-based company has offices in Montreal and Vancouver.

Site preparations for the new ethanol plant and renovations to the grain elevators have begun. Plant construction is scheduled to begin this summer with a target completion date of December 2009.