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February 12, 2008 | Jim Lane | Comments 0

110 Mgy corn ethanol plant opens in Ohio; Marathon Oil and The Andersons are JV partners

In Ohio, a 110 Mgy corn ethanol plant owned by The Andersons and Marathon Oil in Greenville has commenced production. The joint venture will produce 350,000 tons of distillers grains in addition to ethanol.

Two new biofuels plants have already opened in Ohio this year, both producing corn-based ethanol.

Coshocton Ethanol commenced operations in January, after completion of a two-year construction period. The 55 Mgy corn ethanol plant will utilize 20 million bushel of corn and create 41 direct jobs. The company is a subsidiary of Altra Biofuels. A lawsuit filed by Coshocton County Citizens for A Safe Community opposing the new ethanol plant had been dismissed right before the opening. The suit alleged that federal and state grant and loans were obtained based on inaccurate application data.

Just before the opening of Coshocton Ethanol, POET opened its 65 Mgy corn ethanol plant in Leipsic. The $105 million project was Ohio’s first ethanol plant and is located in the Iron Highway Industrial Park which is served by multiple rail freight companies.

Meanwhile, investors in the proposed 60 Mgy GreenLion Bio-Fuels plant in Streator, OH are moving to recover a portion of their money as insiders indicate that the delay may become a cancellation due to unfavorable ethanol economics. Investors have been offered 72 cents on the dollar; the plant’s construction efforts were halted last summer amidst market uncertainties.

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