Red Birds Make Flight Plans

Cindy Zimmerman

Cardinal Indiana-based Cardinal Ethanol has a 24-member board of directors in place and is holding public equity-drive meetings to secure the funds needed to finance an ethanol plant in Randolph County. The natural gas-fired plant is anticipated to produce 100 million gallons of ethanol per year, using 36 million bushels of corn. A total of 49 meetings are planned – if needed – to raise up to $82 million of the $150 million estimated cost of the project. Meeting dates and times at locations around Indiana and Ohio can be found on the website, as well as a prospectus and IPO information.