Former INEOS Bio Energy 8± MMGY cellulosic ethanol and biomass plants up for auction

December 6, 2018 |

In Florida, the former INEOS Bio Energy 8± MMGY Cellulosic Ethanol Plant and 6± MW Biomass Plant are going to Auction with Maas Companies. Maas Companies specializes in the sale of specialized and renewable assets for private companies, courts and lenders nationwide. The surplus land and equipment are being offered first via a sealed bid auction process ending on Tuesday, January 8, 2019. If the equipment is not sold as an entirety with the real estate, the equipment will then sell piecemeal via a timed online auction ending on January 15, 2019.

Built in 2011 at a cost of $230 million, the plant was a joint venture between Ineos Group LTD and New Planet Energy LLC. This first of its kind demonstration plant was designed to use an integreated biomass gasification and gas fermentation technology to convert cellulosic yard and vegetable waste into ethanol. The plant also has installed the capacity to generate 6 MW of on-site power., and has a grid interconnection in place with all the required equipment and controls necessary for the import and export 12 MW of power to/from the site to the grid.

The plant is adjacent to the Indian River County Solid Waste Disposal LandFill with an existing gas line in place enabling the use of the landfill waste gases on the site.    The plant’s main site has city water/sewage infrastructure, in addition to 5 water wells and the 4th largest injection well in the state of Florida. The plant also owns an additional 74.5 acre tract of land to the south of the main site, with liquid piping connections in place.

Frankens Energy purchased the property earlier this year and has begun deploying its plans to convert the site into an industrial eco-district, the first of its kind on the eastern seaboard. Once complete, the Indian River Eco-District (http://www.irecodistrict.com) will support and nurture an innovative eco-system of industrial businesses, while fostering sustainable competitive advantages, growth and success of each of its members. The Eco-District’s goal is: ‘harmoniously integrating a series of businesses, all focused on nurturing and supporting environmental sustainability, employment and education within the local community; every aspect of this project is rolled out with community stewardship in mind.’

The auction is selling surplus assets –land, equipment and infrastructure that do not contribute to the business plans of the Indian River Eco-District. The surplus land and equipment are being offered first via a sealed bid auction process ending on Tuesday, January 8, 2019. If the equipment is not sold as an entirety with the real estate, the equipment will then sell piecemeal via a timed online auction ending on January 15, 2019.

Bidders interested in the plant should contact the auction company to receive access to all the due diligence documents prior to submitting a sealed bid.

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