MFA Oil Company is holding a meeting Tuesday morning in Jefferson City to announce its partnership with Ohio-based biofuel company Aloterra Energy.
The two companies plan to produce a renewable energy alternative, as well as bring hundreds of jobs to Columbia. The partnership will be called MFA Oil Biomass. With the help of the federally-funded assistance program Biomass Crop Assitance Program, MFA Oil Biomass will allow local farmers to grow crops that can be used for heat, electricity, and biofuel products such as ethanol.
During the meeting Tuesday, officials will discuss what this the plans could mean for Columbia. The project will bring about $50 million to the area, as well as 900 jobs. MFA Oil Biomass also asked for approval in Aurora, Mo. and Paragould, Ark. It expects the crop will be grown by about 1,700 farming families across the three project areas.