International investment and advisory firm Babcock & Brown has finalized plans to acquire Iroquois Bio-Energy Company of Rensselaer, Indiana. This is the Australian firm’s fourth investment in the US ethanol industry.

In January 2006, Babcock & Brown Environmental Investments completed the acquisition of Diversified Energy Company, whose primary asset is a 25 mgpy facility in Morris, Minnesota. Babcock & Brown also has two plants under construction: a 100 mgpy facility in Hennepin, Illinois and a 50 mgpy facility in Necedah, Wisconsin.