Fox River Valley Ethanol purchases Wisconsin facility

Fox River Valley Ethanol, a wholly-owned subsidiary of Ace Ethanol, has been revealed as the purchaser of the Utica Energy ethanol plant and its related assets.

The sale includes the 50 million gallon ethanol production facility in Utica, Wisconsin, a nearby distiller’s grains drying facility and a grain elevator in Green Bay. It is believed Ace’s ethanol plant is similar in capacity and design to the Utica Energy one.

Neal Kemmet, president of Ace Ethanol, says the company expects to restart operations this autumn and is in the process of rehiring a substantial number of the original employees: ‘They had an experienced team; and we’re looking forward to returning the plant to full-time operations.’

Kirk Martin, a partner at Ascendant Partners, an investment banking organisation that advised the seller, adds: ‘Given Ace’s operating performance and experience, it is optimally positioned to successfully start-up and operate the plant going forward, which in turn will put people back to work in the community, re-establish a market for local grain and produce homegrown transportation fuels, feed and other co-products.’