A group of nine farmer-owned ethanol plants in the upper Midwest got together to purchase the former VeraSun plant in Janesville, Minnesota to make it an even ten.
Guardian Energy LLC, headquartered in Shakopee, Minnesota recently entered into an agreement to purchase the 100-million gallon plant acquired by AgStar Financial Services’ lending group through VeraSun Energy’s bankruptcy in March of 2009. Guardian Energy is a wholly owned subsidiary of Guardian Eagle Investments formed to own and operate this ethanol facility in Janesville. The group also founded Renewable Products Marketing Group, which will provide marketing services for the facility.
Renewable Products Marketing Group CEO Randy Hahn said, “Our group of farmer owned ethanol producers are very excited to see this purchase come together. We strongly believe that the value generated by converting our locally grown corn into renewable energy ought to stay here at home. We are committed to keeping this facility in the hands of local producers and farmers.”
AgStar has now found new owners for four of the six VeraSun plants they are representing. Another announcement is expected this week for a fifth plant in Dyersville, Iowa.