Altra Nebraska ethanol plant to be auctioned in pieces

In Nebraska, the partially-built 110 Mgy Altra Nebraska ethanol plant near Carlton will be sold at auction in October, according to a report in the Journal Star. The company filed for bankruptcy last month, citing more than $86 million in liabilities and assets of between $10 and $50 million.

The $220 million project was commenced in 2006 but foundered over financing problems. Officials running the bankrupt company in the bankruptcy process say that they have been unable to find a buyer for the plant, and are likely to sell it in pieces.

Last December, Altra Biofuels announced that they have shut down production at their two ethanol plants formerly operating in Cloverdale, Indiana and Coshocton, Ohio. The Altra plant in Cloverdale commenced operation in May, with an initial capacity of 84 Mgy that the company had announced it would expend to 100 Mgy. The complete staff of the plant were laid off indefinitely. The company did not reveal the reason for closure, but low ethanol prices and the continuing credit squeeze are likely to have been the key factors in the shutdown, according to observers.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

F&S Biodiesel plant auctioned for $75,000 plus a percentage of future profits

In Connecticut, the F&S biodiesel plant, which was auctioned yesterday in hopes of realizing a $4 to $12 million value, received one bid for $75,000 plus a percentage of future profits by Total En...

Cargill picks up unfinished 110 Mgy Altra ethanol plant in Nebraska in auction

In Nebraska, Cargill won the auction for the assets of the as-yet uncompleted 110 Mgy Altra Nebraska ethanol facility in Carleton. According to a Cargill statement, construction on the Altra facili...

Altra Biofuels shuts down ethanol plants in Ohio and Indiana

In California, Altra Biofuels announced that they have shut down production at their two ethanol plants formerly operating in Cloverdale, Indiana and Coshocton, Ohio. The Altra plant in Cloverdale com...

5 Mgy Mid-Atlantic Biodiesel plant in Minnesota to be auctioned January 22nd

In Delaware, Maas Companies announced that the 5 Mgy Mid-Atlantic Biodiesel plant will be auctioned on January 22nd. The plant was opened in 2007 and ran for six months before being idled by economic ...

Coshocton Ethanol opens 55 Mgy plant in Ohio

In Ohio, Coshocton Ethanol will commence operations today, 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...

Aventine to acquire outstanding 21 percent of Nebraska ethanol plant for $4.94 million, from Nebraska Energy Co-op

In Nebraska, the Nebraska Energy Co-op's board approved the sale of its 21 percent stake in the Aurora ethanol plant to Aventine Renewable Energy for $4.94 million. In exchange, the co-op received 1 m...