Ethanol companies announce acquisitions

By | August 27, 2007
One company has acquired a current ethanol producer, another has acquired a proposed ethanol project, and a third company has been preparing to acquire ethanol projects in recent months. Aussie investment firm Babcock & Brown acquired Iroquois Bio-Energy Co. LLC, a 45 MMgy current ethanol producer in Rensselaer, Ind., from New Energy Capital Corp. Louis Dreyfus Commodities Grand Junction LLC, a subsidiary of Louis Dreyfus, acquired Further Fuels LLC, a 110 MMgy ethanol plant being developed in Grand Junction, Iowa. In hopes of following suit, All Fuels & Energy Co. announced that it received a letter of intent to provide $121 million of funding that will be used toward strategic acquisitions of operational ethanol plants. The source of funding wasn't revealed.