Ace scoops jackpot with ethanol plant purchase

US ethanol producing company Ace Ethanol has completed the purchase of a dormant ethanol plant in Wisconsin.

The price is a reported $16.5 million (€12.6 million) and Ace is aiming to reopen the facility in the autumn. Ace co-founder Robert Sather was quoted as saying to build a plant of this size, capable of producing 50 million gallons a year, from new would cost Ace about $75 million.

‘We’ll have it up and running by October and we’re confident it will be profitable in a short space of time,’ he adds.

It is believed the facility needs around 45 employees and Ace is currently looking to rehire current or former employees of Utica Energy, the selling company.