Ace Ethanol completes sale of former Utica Energy plant

By Erin Voegele | August 14, 2013

The sale of the Oshkosh, Wis.-based Utica Energy LLC ethanol plant to Stanley, Wis.-based Ace Ethanol LLC officially closed Aug. 12. According to Robert Sather, public affairs director for Ace Ethanol, the plant will now be a wholly owned subsidiary of Ace Ethanol, and is to be named Fox River Valley Ethanol.

“The bankruptcy judge awarded the auctioned plant to Ace Ethanol at a bid price of $16.5 million. Whereas, replacement cost of the plant would be about $75 million,” Sather said in an emailed statement.

In late July, Sather told Ethanol Producer Magazine that Ace Ethanol intends to invest between $4 million and $5 million in the plant. The investment will include the installation of corn oil extraction technology.

The plant, which has been idle since Sept. 2012, is expected to resume operations in September or October.