Skip to main content

Struggling ethanol plant in SW Minnesota sold

  • Author:
  • Updated:
    Original:

The Heron Lake BioEnergy plant has been sold for $55 million.

MPR reports the Guardian Cos., based in Janesville in southern Minnesota, purchased the 60 million-gallon-a-year ethanol producer, which is struggling financially.

The Heron Lake plant, located in Jackson County in southwest Minnesota, cost more than $100 million to build. Through the first nine months of 2012, the plant lost nearly $3 million.

The bargain price of the transaction reflects tough times in the renewable fuel business. There is oversupply of ethanol, while prices for corn, ethanol's main ingredient, soared to record levels.

Next Up

Ambulance Hennepin Healthcare

Boy, 14, critical after accidental shooting at Minneapolis apartment

Police say the shooting happened during a gathering at an apartment.

Screen Shot 2022-08-09 at 3.25.49 PM

Charges: Man caused Burnsville building fire because girlfriend was late

The alleged arson fire displaced around 50 residents.

Famous dave granite city

Famous Dave's, Granite City owner sold for $200 million

The owner of Famous Dave's, BBQ Holdings, is based in Minnetonka.

Alanna McLean

Appeal to find missing northern Minnesota woman

Alanna McLean was last seen this past weekend.

image

Minnesota reaches 55 confirmed cases of monkeypox

Nearly 9,000 cases have been confirmed nationwide.

derek chauvin

$1.45M payout for correctional officers prevented from guarding Derek Chauvin

The officers were reportedly ordered to avoid Derek Chauvin while he was in jail.

DSD_6142

Palm Springs residents: Divert the Mississippi to solve our drought problems

Should the southwest have some of the Mississippi River?

Image from iOS (10)

Minneapolis tries to spruce up street barriers with motivational messages

Police said the barriers will be in place through the beginning of the fall.

BearTracks3

MnDOT debuts driverless shuttle in White Bear Lake

This is one of several self-driving pilot programs MnDOT is working on.

snow

Farmer almanacs release their 2022-23 winter forecasts for MN

November is right around the corner and one of the almanacs figures it'll be a cold and snowy month.

Related