Northeast Biofuels files for bankruptcy; 114 Mgy corn ethanol plant in NY, corn oil extraction project affected

In New York, Northeast Biofuels, owner of a 114 Mgy ethanol plant near Volney that commended ethanol sales last August, has filed for bankruptcy protection. The $200 million project was developed at a former Miller beer brewery. Last year, the company inked an agreement with GS CleanTech to extract 10 Mgy of crude corn oil from the distillers grain produced at the ethanol plant in Volney and sell the corn oil as feedstock for a 10 Mgy GS AgriFuels biodiesel plant. It was not known how the filing affected the GS Clean Tech deal.

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