Assets of former Ineos Bio plant to be sold piecemeal via auction

By Erin Voegele | January 11, 2019

Equipment associated with the former Ineos Bio Energy 8 MMgy cellulosic ethanol plant and 6 MW bioenergy plant in Vero Beach, Florida, are being sold piecemeal via a timed auction ending Jan. 15, according to information released by the Maas Companies on Jan. 11.

Built in 2011 at a cost of $230 million, the plant was a joint venture between Ineos Group Ltd. and New Planet Energy LLC. The demonstration plant was designed to use integrated biomass gasification and gas fermentation technology to convert cellulosic waste into ethanol. The plant also has the capacity to generate 6 MW of on-site power.

Ineos Bio announced its intent to sell the plant in September 2016. A consortium of investors and project developers led by Texas-based Franks Energy purchased the plant in February 2018 and announced plans to convert the site to an eco-district.

Information released by Maas Companies in December indicates Franks Energy has begun deploying its plans to convert the site to an industrial eco-district. Once complete, the Indian River Eco-District is expected to support and nurture an innovative eco-system of industrial businesses, while fostering sustainable competitive advantages, growth and success of each of its members.

The Jan. 15 auction is a continuation of the sales effort first announced by Maas Companies last month. In early December, the group announced it would auction surplus land, equipment and infrastructure that does not contribute to the business plans of the Indian River Eco-District. The surplus land and equipment was first offered via a sealed bid auction process ending Jan. 8. In the event the equipment was not sold as an entirety with the real estate, the equipment was then scheduled to be sold piecemeal via a timed online auction ending Jan. 15.

Additional information is available on the Maas Companies website.