December 27, 2008

Mid-Atlantic Biodiesel Plant Scheduled for Auction

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CLAYTON, DE --- Maas Companies of Rochester, MN will auction off the Mid-Atlantic Biodiesel plant on Jan. 22 in Clayton, DE.

Mid-Atlantic Biodiesel Co. LLC, a 5 million gallon-per-year B100 biodiesel refinery, was constructed in 2006-07. The facility operated for six months before suspending operations because of an unexpected change in market conditions. The refinery is now dormant and under the care of on-site personnel but is in "move-in" condition.

Refinery equipment will be auctioned mostly as a unit, with the exception of some uninstalled new equipment that will be offered for individual sale. The refinery's laboratory equipment is subject to lease-to-own equipment leases, which may be assumed.

The refinery is leased from Norfolk Southern Co., whose rail siding connects the property to its main rail line. Qualifying bidders will have the option to assume the lease and operate on-site, subject to Norfolk Southern's review and approval of the new owner's credentials.  

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