Ethanex Energy to acquire Midwest Renewable ethanol project for $220 million

February 12, 2008

In Nebraska, Ethanex Energy announced that it will acquire the Midwest Renewable Energy ethanol plant in Sutherland, for $220 million in cash and Ethanex stock, in a series of three transactions.

Under the final agreement, Ethanex will acquire the existing 26 Mgy Midwest corn ethanol plant for $50 million, and will subsequently acquire an additional 85 Mgy in production capacity, currently under development by Midwest. Total capacity for the plant will be 111 Mgy upon project completion. The deal was initially announced in November.

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Written by Jim Lane · Filed Under Producer News