Surplus assets of former Ineos Bio plant to be sold at auction

By Erin Voegele | December 06, 2018

Some of the land and equipment associated with the former Ineos Bio Energy 8 MMgy cellulosic ethanol plant and associated 6 MW bioenergy plant in Vero Beach, Florida, is being offered for sale via an auction with Maas Companies.

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 destined 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 and has a grid connection in place with all the required equipment and controls necessary for the import and export of 12 MW of power to and from the site to the grid.

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 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 auction is selling surplus land, equipment and infrastructure that do not contribute to the business plans of the Indian River Eco-District.

According to Maas Companies, the surplus land and equipment are being offered first via a sealed bid auction process ending Jan. 8. If the equipment is not sold as an entirety with the real estate, the equipment will then sell piecemeal via a timed online auction ending Jan. 15.

Additional information is available on the Maas Companies website.