Accounting firm seeks buyer, investors for idled ethanol plant
Investors or a buyer are being sought for a Canadian manufacturing company that produces ethanol, pet food ingredients, livestock feed and fertilizer. Amaizeingly Green LP idled ethanol production in July but is continuing to produce fertilizer and a limited amount of animal feed, said Allan Rutman, acting receiver and manager with Toronto-based accounting firm Zeifman Partners Inc.
Carlyle/Riverstone Renewable Energy Infrastructure Fund, the parent company of Amaizeingly Green, applied for a receivership order through the Ontario Superior Court of Justice on Dec. 3. In Canada, a receivership is a process through which secured creditors can seek appointment of a receiver to protect assets and market the business, typically while it is still operating, Rutman told Ethanol Producer Magazine.
Drought across the U.S. and some areas of Canada resulted in high corn prices, resulting in some ethanol plants lowering production levels or temporarily idling. However, the majority of U.S. and Canadian ethanol plants are still operating.
At Amaizeingly Green total of 48 employees were laid off in July, while 21 remain working on fertilizer and limited animal feed production. The corn wet mill facility produces a variety of products, according to the company website. The list includes 58 MMly ethanol and dried brewer’s yeast for use in the pet and fish food industries, corn germ, corn fiber and corn-distilled soluble water, a product that is added to road salt.
The company also produces corn gluten meal used as an ingredient in dog and cat food as well as a corn gluten meal that is utilized as a natural fertilizer in residential and commercial markets. Production of fertilizer and the limited production of animal feed that is ongoing is unrelated to the ethanol process, Rutman said. The fertilizer is produced through a subsidiary, Amaizeingly Green Value Products ULC, and was created in response to a ban on lawn pesticides by Ontario, which went into effect on Earth Day, April 22, 2009.
The plant, which is located in Collingwood, Ontario, Canada, began producing ethanol as Collingwood Ethanol in 2007. The facility was in existence and housed alternate industries prior to that, however. “It has gone through several different iterations,” Rutman said.
Amaizeingly Green was considering installing an anaerobic digester because the company has its own wastewater treatment facility, which would have meant the digester could be installed at a reduced capital cost. “We have been working with groups to test and model potential methane extraction from our internal water flows at the facility,” the website said. “It is expected that we could extract almost half of our energy requirement at the plant by converting our waste water treatment facility into an anaerobic digester.”
The website also contains a video tour with additional details about the plant and the products it produces.