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

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.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

4Rivers Bioenergy to acquire Midwest Renewable Energy, including Nebraska ethanol project

In Kentucky, 4Rivers BioEnergy announced a LOI to acquire the assets of Midwest Renewable Energy including a 28 Mgy corn ethanol plant in Sutherland, Nebraska that is undergoing expansion to a capacit...

Ethanex Energy to acquire 26 Mgy Midwest Renewable Energy ethanol plant in Kansas; capacity to expand to 111 Mgy

In Kansas, Ethanex Energy will acquire the 26 Mgy Midwest Renewable Energy corn ethanol plant. The base price for the existing plant is $50 million, with a formula for a total price of $220 million, w...

Renewable Fuel Technology breaks ground on 5 Mgy soy biodiesel plant in Nebraska

In Nebraska, Renewable Fuel Technology broke ground on a 5 Mgy soy biodiesel plant in Arapahoe. The $16 million project is expected to be completed by this autumn and will employ a staff of 20. Neb...

Alternative Energy Sources to shut down operations

In Missouri, Alternative Energy Sources will shut down this week after failing to find financing for its proposed 110 Mgy corn ethanol plant in Boone County, Iowa. The company had attempted to expand ...

Alternative Energy Sources sues lawyer over insider trading allegations

In Missouri, Alternative Energy Sources filed a $1.65 million suit against Florida attorney Louis W. Zehil, alleging that the attorney made millions in illegal “short-swing” insider tradin...

Bankrupt Ethanex Energy sues McGuire Woods law firm over profiteering claims

In Missouri, the bankruptcy trustee for Ethanex Energy is suing the McGuire Woods law firm for supporting and profiting from a insider trading scheme operated by former partner, Louis Zehil, who alleg...