A company with ambitious plans to have ethanol plants in Illinois, Missouri, Kansas and Nebraska is now planning to file for bankruptcy after being unable to raise $1.5 million in necessary interim financing. Ethanex Energy at various times announced plans to buy Midwest Renewable Energy in Nebraska and build plants in Waltonville, Illinois and Cape Girardeau, Missouri and northeast Kansas. …
Ethanex Inks Deal to Buy Nebraska Plant
Ethanex Energy has finalized an agreement to buy Midwest Renewable Energy in Sutherland, Neb., for $220 million in cash and Ethanex stock. The deal was first announced last November. According to a company release, the existing plant, which has a production capacity of 26 million gallons per year, is currently undergoing a two-phase expansion, after which its total projected plant …
Ethanex Hitches To Star
Ethanex Energy Inc., has entered into a joint venture with Star Ethanol, LLC for the construction and operation of an ethanol facility located in Franklin County, Illinois. According to a press release, the facility will incorporate the fractionation technology developed at Ethanex’s SEMO plant (in Cape Girardeau, MO) and will produce 132 million gallons of fuel grade ethanol per year. …
Ethanex Aquisition
Ethanex Energy Inc., formerly New Inverness Explorations Inc., has announced the closing of a stock-for-stock merger with Ethanex Energy North America, Inc. The combined company will operate under the name Ethanex Energy Inc. and will assume and execute Ethanex Energy North America’s renewable energy business plan as its sole business. Ethanex Energy is a developer, owner and operator of ethanol …
Group Calls Open Fuel Standard Bad for Biofuels
A new analysis done by Advanced Biofuels USA finds that the Open Fuel Standard (OFS) is “bad for advanced biofuels and will add to environmental damage if passed and implemented.” The Open Fuel Standard Act was introduced recently in the House and a similar bill in the Senate. The bills mandate that specific percentages of vehicles be built to operate …
Ethanol Company Chooses Illinois Plant Site
Ethanex Energy Inc. has selected Waltonville, Illinois as the location for a new 132 million gallon per year ethanol plant. According to a press release, this is the Kansas-based company’s third planned facility in the region along with Ethanex at SEMO and Ethanex at Northeast Kansas. This plant will incorporate the Company’s proprietary fractionation technology making it one of the …
Southeast Missouri Ethanol Plant Moves Ahead
Ethanex Energy Inc. has received regulatory approval under a waiver to begin construction on its ethanol production plant to be located in Cape Girardeau. According to a company release, Ethanex at SEMO will be a state of the art 132 million gallons per year fuel-grade ethanol plant. The facility will include patented fractionation technology that reduces energy consumption by 25%, …