Project developers still $15 million short for proposed Iowa 150 million gallon ethanol plant

In Iowa, developers of the proposed Farmers Energy Cardinal ethanol plant in Atlantic is still $15 million short of being able to begin construction on the 150 million gallon facility to be designed and built by Fagen. The facility’s site has been purchased and initial groundwork is being completed while plans are awaiting approval by the county. Another investor meeting is set for Monday to try to secure the remaining funds to move forward. In January a $4.25 million tax refund package was approved by the state in exchange for creating 49 jobs.