Date: January 23, 2009
Source: News Room
Panda Ethanol, which is seeking bankruptcy protection for its Hereford biofuels subsidiary, said it has put its West Texas ethanol plant up for sale. The Dallas-based advanced renewable fuels producer said its subsidiary is in talks with a potential buyer for the still-under-construction distillery. Panda Ethanol did not name the potential buyer, but predicted a sale could be concluded in two to three months. The ethanol plant is slated to be the country's largest biomass-fuelled ethanol plant, capable of producing 115 million gallons per year from a feedstock of 38 million bushels of feedstock-grade corn per year into the renewable fuel. The plant will also use up to 1 billion pounds of cattle manure per year to fuel the plant's operations, rather than fossil fuels. Production was slated to begin later this year.
To learn more, visit: www.pandaethanol.com.
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