Vireol to mothball until crush margins improve

In Virginia, the East Coast’s only ethanol plant Vireol in Hopewell is mothballing for an undetermined amount of time due to continuing low gas prices that are in turn weighing on ethanol prices. With the economics no longer viable to continue operating, with ethanol prices down about 35% from this time last year, the facility that produces 175,000 gallons of ethanol a day from a variety of cereals will shut its doors until the situation improves. The company is also in discussion with potential investors. The facility has unpaid taxes due to the city due to a disagreement over the facility’s assessed value.