100 Mgy Unity Ethanol plant on hold in Iowa; financing issues cited

In Iowa, the proposed 100 Mgy Unity Ethanol plant in Wapello County has been placed on hold, due to financing difficulties. The credit crunch also has impacted the price of oil, ethanol and corn, with the ethanol production model currently not showing favorable economics. Company management said that they will continue to seek $600 million in total for two plants, the plant in Wapello County and another facility in Louisa County. They said that they expect to be back on track as soon as Wall Street stabilizes.

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