Advantage Capital Partners, a leading venture capital and small business finance firm, has invested $10m in Owensboro Grain Company, a soy product and edible oil producer.
The funds, raised in connection with the Kentucky New Markets Development programme, will allow the company to expand its operations to include a glycerin refinery plant.
The construction of this new facility will bring 10 new permanent jobs to the area and will create approximately 40 construction jobs.
Owensboro Grain produces a vast array of products from soybeans including meal, hull pellets, oil and lecithin for human and animal consumption.
The addition of a glycerin refinery plant will allow Owensboro Grain to expand its offerings as well as utilise the full potential of local agriculture in a green energy initiative.
Source: Advantage Capital Partners