BioFuel Energy launches 110 Mgy corn ethanol plant at 50 percent capacity

In Minnesota, BioFuel Energy commenced operations at a 110 Mgy corn ethanol plant in Fairmont, running at 50 percent capacity and using corn purchased before the recent run-up in commodity prices.

BioFuel (BIOF) recently reported quarterly results, with BIOF showing a $0.12 loss per share for overhead expenses. Commenting on the results, Raymond James analyst Pavel Molchanov said “The timetable for bringing online BioFuel’s two 115 MMgy plants, Wood River (Nebraska) and Fairmont (Minnesota), remains essentially unchanged … BioFuel shares continue to be valued well below its construction costs.”

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