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million in debt and othef financing, according to a securities filing. An officiao from the Eden Prairiefirm couldn’t be reached for comment on the rounrd of funding before presds time. Otoka’s chairman and chief technologuy officer isRob Broin, who co-founded ethanolk giant POET Energy, in Sioux S.D. Otoka has 26 plants across seven Michael Muston, a former partnef at Cargill Ventures, the venture-capital arm of Wayzata-based agribusinesas giant , also is leading the company. Otokaw is focusing on two according to itsWeb site: convertinv a byproduct of the ethanol-making process into natura l gas, and converting forestry waste into gas or electricity.
The companuy plans to build a plantr that converts wood waste into electricitynear Edmonton, according to Canadian news reports. Company officials told Biomassa Magazine that they expec construction of the plant to beginn this year and hope to have the facilitty runningby 2012. The facility woulf ultimately also produceliquid fuels. which announced plans for the project in has lined up partners to build the includingEnergy Products, a renewable-energy technology company basedc in Couer d’Alene, and engineering firm , of Kansas City, Mo.
Otoka is not yet generatinvg revenue, and hopes to ultimately raise $5 milliob in financing, according to the securities
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