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Article: EQUITY DRIVE TO RAISE $18 MILLION FOR N.D. ETHANOL PLANT FAILS
- Article from:
- Renewable Fuel News
- Article date:
- April 26, 2004
- Author:
CopyrightCopyright Hart Energy Publishing, LP Apr 26, 2004. Provided by ProQuest LLC. (Hide copyright information)
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An equity drive from in-state investors to raise $18 million needed to build North Dakota's first ethanol plant since the 1980s has failed, but the group promoting the plant said all is not lost.
Since July 2003, the Dakota Renewable Fuels (DRF) working group had been trying to raise the funds needed to build a 30 million gal/yr plant in Valley City, N.D., according to Jocie Iszler, DRF secretary/treasurer and executive director of the North Dakota Corn Growers Association (NDCGA). As of early January, the group had raised $3 million (see RFN, 1/12/04, p2), but by the absolute deadline of March 31, had only managed to raise $3.1 million-well short of the $18 million goal, she added.
The ...