ForeverGreen Enterprises Plans to Construct New Waste-to-Hydrogen Production Facility in Dekalb County that is Expected to Create 150 Jobs
DEKALB COUNTY (November 22, 2005)—ForeverGreen Enterprises Inc., today announced plans to construct a new high-technology hydrogen production facility in Dekalb County with the support and assistance of the state of Indiana through the Indiana Economic Development Corporation (IEDC).
While other producers of hydrogen use natural gas as a feedstock, ForeverGreen Enterprises will manufacture Green Hydrogen from materials that would otherwise be regarded as wastes, therefore reducing manufacturing costs and the negative impact these wastes would otherwise have on the environment.
“The addition of a hydrogen plant in Indiana is a big win for Hoosiers,” said Governor Mitch Daniels. “This plant will add jobs to our state, prompt the purchase of hydrogen from a local producer, and create an environmentally friendly way to dispose of harmful waste materials.”
Using a process known as plasma-induced molecular dissociation, the company will break down waste materials into their basic elements to extract hydrogen. The production facility, to be located in Dekalb County, will produce hydrogen for industrial and alternative fuel uses and create more than 150 new jobs in the process.
With plans to have construction complete sometime in 2006, co-founder and native Hoosier Randy Cole expects ForeverGreen’s production capabilities to induce the development of a hydrogen business cluster in the surrounding area, where a high demand for hydrogen already exists.
“Now, we’ll produce the hydrogen here, creating many jobs and stabilizing thousands of others,” Cole said. “It’s a major victory for my home state, and that’s why so many here are working to help us to get up and running.”
The economic development incentives offered by the IEDC include:
--Approximately $110,000 in training grants from the Skills Enhancement Fund (SEF) to train Indiana resident employees;
--Up to $50,000 in training grants for technology professionals through the Technology Enhancement Certifications for Hoosiers (TECH) fund;
--Up to $3 million over 10 years in Economic Development for a Growing Economy tax credits (EDGE); and
--Up to $1.5 million in potential tax credits for certain company investments through the Hoosier Business Investment (HBI) tax credit program.
About the IEDC:
As a result of legislation passed by the Indiana General Assembly in Feb. 2005, the Indiana Economic Development Corporation replaced the Department of Commerce as the premier entity charged with state economic development. The IEDC has a 12-member board chaired by Gov. Mitch Daniels. Patricia R. Miller, chief executive officer and secretary of commerce of the IEDC, serves in the Governor’s cabinet.
For more information about ForeverGreen Enterprises visit their Website at www.fgehydrogen.com
Source: Indiana Economic Development Corp.
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