The factories would produce biofuel pellets made from the crop miscanthus which is similar to corn. Each factory would be surrounded by 4,000 hectares of farmland.
Miscanthus would be harvested, dried and compressed to make pellets that can be burned to produce energy.
The pellets could then be used to heat buildings and run power plants, Robertson explained.
"It conceivably could generate enough electricity in the large cities," he added.
Each factory is planned to cost nearly $20 million to build. The company plans to receive the $400 million necessary for the project through US and European government funding.
The company hopes to raise the funds by the end of 2015, plant the crops in 2016, and launch the factories in 2017, according to Boston Herald.
