Maas Companies of Rochester, Minn. will auction American Energy Producers’ $60 million biodiesel facility at 11 a.m. on Tuesday, March 10, 2015. The auction will be held off-site at the Rupe Community Center at 710 Harvest Hills Drive in Carrollton, Mo. with live and Internet bidding.
The plant includes a partially completed 60 million-gallon-per-year biodiesel plant on 508 acres, with plans to add a 35 million-bushel-per-year soybean processing facility. The real estate will be sold in tracts or as an entirety. The more than 300 equipment lots will be sold piecemeal, following the real estate.
American Energy Producers Inc. is a new-generation producer cooperative that began construction with $35 million of funding. Work halted on the project when additional financing could not be obtained due to unforeseen economic challenges. The sellers will consider a partnership to complete the plant or an entirety purchase offer prior to auction.
The initial design was for a biodiesel plant with the addition of a soybean processing facility. Currently, the site has new gas pipeline in place, rail access with plans for a 110-car oval rail track. The planned feedstock was refined and bleached soy oil, with plans to supplement with animal fat and waste cooking oil.
At the time construction stopped, approximately $38 million had been spent for construction and engineering work. The majority of the equipment has been purchased and is onsite. For a complete equipment catalog, please see the auction website. Additional engineering and technical information is available upon signing a release available from the auction company.
The plant is available for purchase prior to auction as an entirety including both real estate (where applicable) and equipment. Potential buyers are encouraged to explore these options in a timely manner and submit their bids prior to Wednesday, February 25 at 5 p.m. Central Time. After this date, the plant will be sold piecemeal at the auction.
Potential buyers are encouraged to attend one or more of the following open houses:
|Tuesday, February 17||9 AM – 5 PM|
|Tuesday, March 3||9 AM – 5 PM|
|Monday, March 9||9 AM – 5 PM|
|Other times by appointment.|
Details of the sale are available at the auction website, maascompanies.com, or by contacting the auction company directly at 507-285-1444.
ST Staff Writers
This post was prepared by Solar Thermal Magazine staff.