Paladin strikes deal to acquire bankrupt 55 Mgy Greater Ohio Ethanol plant for $5.75 million

In Ohio, according to court documents, Paladin Ethanol Acquisition has negotiated a deal to acquire the bankrupt Greater Ohio Ethanol plant in Lima for $5.75 million. The 55 Mgy plant was originally constructed for $150 million, but a design flaw created excess water use and waste production, causing the plant to file for bankruptcy last fall after opening in March 2008.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

Greater Ohio Ethanol files Chapter 11 bankruptcy

In Ohio, the Greater Ohio Ethanol Plant has filed for Chapter 11 bankruptcy protection for its 54 Mgy corn ethanol plant in Lima. The company said that they hope to continue running while reorganizing...

Green Plains Renewable Energy to acquire two bankrupt VeraSun ethanol plants for $123.5 million

In Nebraska, Green Plains Renewable Energy announced that it will acquire two of the bankrupt VeraSun Energy ethanol plants from a group of lenders led by AgStar Financial Services, for $123.5 million...

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. U...

110 Mgy VeraSun corn ethanol plant in Ohio shuts down; financing the issue for bankrupt firm

In Ohio, the 110 Mgy VeraSun corn ethanol in Bloomingburg has been idled, according to the Record-Herald. VeraSun said that they have suspended operations while they seek additional interim financing ...

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...

WestLB lender group says “we’re still analyzing the deal” with two VeraSun Energy ethanol plants hanging in the balance

In Ohio and Indiana, the fates of two VeraSun Energy corn ethanol plants hang in the balance, after a lender group led by Germany's WestLB that acquired them for a credit bid of $99 million indicated ...