Stanley Ethanol Plant Purchasing Another Facility
Saturday, July 13th, 2013 -- 6:51 AM
-A judge in Winnebago County has approved the sale of an ethanol plant in Oshkosh to a company in western Wisconsin.Ace Ethanol of Stanley wants to buy the Utica Energy plant for $16.5 million. The plant produces about 50 million gallons of ethanol a year. The Oshkosh plant will be renamed Fox River Valley Ethanol.
The Utica Energy ethanol operation collapsed under more than $30 million in debt. Ascendant Partners, of Colorado, had been hired by the receiver in the case to sell the ethanol plant, grain elevator and grain drying plant as an ongoing operation.
Oshkosh Northwestern Media says Dougherty Funding, of Minneapolis, Minn., filed foreclosure proceedings against Utica Energy in December 2012. The plant stopped making ethanol in September.
Feel free to contact us with questions and/or comments.