VeraSun Energy to auction seven ethanol plants with 640 Mgy in capacity, by March

In South Dakota, bankrupt ethanol giant VeraSun Energy received Delaware bankruptcy court approval to auction seven ethanol plants in March. The seven plants were acquired at the time of the US BioEnergy merger last year, and have been idle for several months due to the liquidity crisis at the company. VeraSun acquired a total of eight plants in the US BioEnergy merger that was completed last March. The plants have a combined capacity of 640 Mgy.

The former US BioEnergy plant in Marion, SD is not included in the auction plan. According to court documents, the auction will be completed no later than March 16th, and a target closing date of March 31st. The plan was required by lenders as a condition of extending financing to the company.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

POET confirms interest in 7 VeraSun Energy plants readying for auction; 600 Mgy up for grabs

In South Dakota, POET confirmed its interest in participating in an upcoming auction of seven ethanol plants by VeraSun Energy. The seven plants, representing 600 Mgy in capacity, were acquired by Ver...

Green Plains Renewable Energy to acquire two bankrupt VeraSun ethanol plants for $123.5 million

In Nebraska, Green Plains Renewable Energy announced that it will acquire two of the bankrupt VeraSun Energy ethanol plants from a group of lenders led by AgStar Financial Services, for $123.5 million...

Guardian Energy to acquire 100 Mgy ethanol plant in Minnesota from AgStar

In Minnesota, Guardian Energy has agreed in principle on the acquisition of the 100 Mgy Janesville ethanol plant, previously owned by VeraSun Energy. The  plant was acquired in 2007 by VeraSun as par...

VeraSun receives $280 million bid from Valero for five ethanol plants, plus development project; “stalking horse” bid to be tested at auction

In South Dakota, VeraSun Energy confirmed that it has received a "stalking horse" bid of $280 million (plus inventory and pre-paid expenses) for the purchase of five of its ethanol plants, and will ho...

Valero takes over VeraSun investment in advanced biofuels developer Qteros

In Massachusetts, Valero has assumed the investment in advanced biofuels developer Qteros originally owned by bankrupt ethanol producer VeraSun Energy. Qteros, which raise $25 million last year in its...

VeraSun Energy acquires three ethanol plants from ASAlliances

VeraSun Energy closed its acquisition of three ethanol plants from ASAlliances Biofuels with a production capacity of 330 million gallons per year. VeraSun now has 450 million gallons of annual produc...