Green Biologics Buys Central MN Ethanol Co-op

John Davis

greenbiologics1A Los Angeles-based industrial biotechnology and renewable chemicals company has bought a Midwestern ethanol producer with plans to convert the operation to producing renewable normal butanol (n-butanol) and acetone. This news release from Green Biologics Inc. says the company closed the deal to buy Central MN Ethanol Co-op (“CMEC”), which includes a the 21 MGPY ethanol plant.

“We are extremely pleased with the successful closing and look forward to the leadership role that Green Biologics will play in bringing renewable chemicals to commercial reality,” said CMEC CEO Dana Persson. “The OPA team did an outstanding job on all facets of this transaction including expanding the list of bidders to include renewable chemical companies such as GBL.”

Since 2012, OPA has worked with CMEC’s Board of Directors and Company Management to assess its strategic alternatives, including acting as financial advisor to CMEC on the sale of its minority stakes in Guardian Energy, KAAPA Ethanol and Bushmills Ethanol.

Mark Fisler, Ocean Park Managing Director, commented, “This sale marks the 17th successful biofuels transaction for Ocean Park Advisors, which further solidifies the firm’s position as a leader in biofuels investment banking. This pioneering deal demonstrates that it is possible to retrofit and reposition a first generation ethanol plant as a renewable chemical plant.”

The plant will start producing renewable n-butanol and acetone in 2016.

Ethanol, Ethanol News