Owensboro Grain receives funding for expansion

by Eric Schroeder
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OWENSBORO, KY. — Advantage Capital Partners, a venture capital and small business finance firm, has invested $10 million in Owensboro Grain Co., a soy product and edible oil producer. The funds, raised in connection with the Kentucky New Markets Development program, will allow Owensboro Grain to expand its operations to include a glycerin refinery plant. Construction of the new facility will bring 10 new permanent jobs to the area and will create approximately 40 construction jobs, the company said. “I am excited about Owensboro Grain’s future in Kentucky,” said Jeff Erb, chief financial officer of Owensboro Grain. “We are now in the fifth generation of family ownership, and we continue to look for opportunities to expand. The Kentucky New Markets Development program is the kind of incentive that shows Kentucky’s commitment to existing as well as new businesses.” Owensboro Grain produces a variety 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 utilize the full potential of local agriculture in a green energy initiative.
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