Tenaska acquires biodiesel plant in Iowa

Tenaska, an independent energy company, has acquired the assets of Clinton County Bio Energy (CCBE) in Clinton, Iowa from a local group of investors. Ocean Park Advisors (OPA) acted as exclusive financial advisor to CCBE on the sale transaction.

Financial terms of the transaction were not disclosed. The assets include a 10 MGPY biodiesel refinery in Clinton, Iowa that produces B100 quality biodiesel meeting ASTM D-6751 specifications. The plant recently installed a resin-based pretreatment system that allows the use of higher FFA feedstock such as corn oil.

Mark Fisler, Ocean Park MD, comments: 'This sale marks the 18th successful biofuels transaction for Ocean Park Advisors, which firmly positions the firm as a leader in renewable fuels and chemicals investment banking.'

Source: Tenaska news release