Missouri’s 55 Mgy Gateway Ethanol plant sold for $60 million

In Missouri, a US bankruptcy judge approved the sale of the 55 Mgy Gateway Ethanol plant in Pratt to investment bank Dougherty Funding for $60 million. Dougherty had loaned $63 million to project developers Orion Ethanol, which filed for bankruptcy October 5th. The plant was completed and commenced production in October 2007, but was never brought to full capacity by the previous ownership. The price of $1.09 per million gallons of planned capacity is well below the cost for new construction.

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