Advanced Bioenergy Finances SD Operations

Cindy Zimmerman

Adv BioEAdvanced BioEnergy, LLC has announced that its wholly-owned subsidiary, Heartland Grain Fuels, L.P., has closed on a $118 million financing package for its South Dakota ethanol production facilities.

According to the company, the financing will be used to refinance Heartland Grain Fuels’ existing debt, complete construction of a 40 million gallons nameplate per year expansion facility at Heartland’s existing Aberdeen plant, and pay for operating costs at both the Aberdeen and Huron production facilities.

Advanced BioEnergy CEO Revis L. Stephenson III said, “We believe that this financing provides us with sufficient debt financing to complete construction of our 40 million gallon nameplate capacity per year Aberdeen expansion facility. Together with our third facility in Fairmont, Nebraska, which we expect will come on line in October of this year, and our existing operating facilities in Huron and Aberdeen, South Dakota, Advanced BioEnergy’s ethanol production capacity when fully operational will approach 200 million gallons per year.”

Ethanol, Facilities, News