Bradley Arant Boult Cummings LLP is pleased to have served as lead counsel to Zilkha Biomass Energy in a deal with U.S. Bank, Stonehenge Capital Company, and AMCREF Community Capital that will provide $5.3 million in federal and Alabama State New Markets Tax Credit equity financing. The funds will allow Zilkha Biomass to transform an existing facility in Selma, Alabama, into the world’s first full-scale Zilkha Black Pellet plant. Zilkha’s hydrophobic Black Pellet is an important advancement in compressed wood pellet fuel, providing an environmentally sustainable and low carbon fuel, which can be transported and burned by coal plants using their existing equipment.
The project will create 55 jobs at the Zilkha facility itself as well as 120 jobs in the trucking and forestry industries for the surrounding community. Approximately 380 temporary jobs will be created during the construction of the plant.
Beau Byrd served as lead counsel to Zilkha Biomass, with assistance from Jimmy Long. Paul Compton and Mark Miller also advised on the matter.