River Valley Energy to Buy Iowa Ethanol Plant
DYERSVILLE, IA --- River Valley Energy, a subsidiary of United Cooperative, has decided to purchase the former VeraSun ethanol plant here, Wisconsin Ag Connection reported.
Last November, the plant closed after VeraSun filed for bankruptcy.
AgStar Financial Services will help finance the deal. The transfer of ownership is expected to take place by Sept. 1. The facility is expected to be fully operational again within a month after the sale closes.
The plant has a production capacity of 100 million gallons of ethanol per year, and is authorized to produce up to 120 million gallons, said River Valley Energy CEO David Cramer.