Methanol plant producer Zeep raises $1M financing

Oct 3, 2014
Austin Business Journal

Zeep Inc., a methanol production plant developer, reported raising a more that $1 million financing

The Austin-based company collected the capital from 30 investors. The funding amount is the fourth update to the financing first reported in February at $120,000, according to a Thursday filing with the U.S. Securities and Exchange Commission

Zeep, founded in 2008 as Zero Emission Energy Plants, develops chemical-grade methanol plants with an “approach that leverages project equity contributions from joint venture partners and long-term off-takers as well as non-recourse project credit from money center banks,” according to its website

The company is co-owner of the South Louisiana Methanol LP that in July signed an agreement to receive natural gas for its proposed $1.3 billion St. James Parish facility from Transcontinental Gas Pipe Line Co. LLC

South Louisiana Methanol is a natural gas-to-methanol project owned by Zeep and The Todd Corp., a private family-owned New Zealand company, the New Orleans Advocate reported

In August, Zeep reported raising a $709,363 financing from 24 investors, SEC filings indicate

Print Article opens in new window