Ringneck Energy fails to reach investment fundraising goals

In South Dakota, Ringneck Energy has raised only $55 million of the $75 million needed to move forward with its planned $140 million ethanol plant. Earthmoving for the planned 70 million gallon facility began late last year but construction that was meant to start this year has been postponed until the remaining financing has been secured. Investor meetings to bring in local farmers and investors into the project failed to secure the sought-for funding. The project developers are also still waiting on a state air quality permit that was meant to be approved in February.