Ace Ethanol to close on purchase of Utica Energy plant

By Erin Voegele | July 29, 2013

The shareholders of Stanley, Wis.-based ACE Ethanol LLC have voted unanimously to approve the purchase of the Utica Energy LLC ethanol plant in Oshkosh, Wis. The transaction is scheduled to close Aug. 9. Once the sale is complete, the name of the facility will change to Fox River Valley Ethanol.

According to Robert Sather, public affairs director for Ace, the 52 MMgy facility was purchase for approximately $16.5 million. In addition to the ethanol plant, the sale also included a grainery.

Ace intends to invest $4 million to $5 million to increase the efficiency of the plant, including the installation of corn oil extraction technology. Sather said that work will get underway as soon as the purchase is complete. The plant is expected to resume operations in September or October.

The plant, which has been idle since September, originally commenced operations in 2003 and expanded to its current capacity in 2004. In April, Ascendant Partners announced that the plant was being sold under the direction of a court appointed receiver. 

According to Sather, the purchase of the Utica Energy plant was attractive to Ace’s shareholders for several reasons, including the fact that both the Utica facility and Ace’s plant in Stanley were built by Delta-T and employ similar designs. Ace knows it can improve the efficiency of the newly acquired plant, he said.