Colusa completes restructuring, obtains research funding
Colusa Biomass Energy Corp. has completed a restructuring plan that injected $4 million into the company for biomass research. The transaction with Pan Gen Global PLC in March gave Colusa funds to explore the commercialization of converting waste rice straw and hulls into ethanol. Colusa's business operations will be concentrated in a new entity called Colusa Biomass Inc., headquartered in Reno. It hopes to raise an additional $40 million to complete the engineering and construction of its first biorefinery.