Tuesday, November 13, 2007

Bankruptcy of biodiesel plants

Biodiesel and other biofuels offer us a possible route out of the mess with the global peak oil situation which in turn is causing the high oil prices. But for this to work the business operations making the biofuels must themselves be stable.

Financing, rising costs led Chelsea biodiesel plant to bankruptcy is about a production plant in Chelsea Oklahoma which has gone out of business. "Green Country Biodiesel LLC filed for liquidation in Tulsa bankruptcy court last week. It listed debts of almost $255,000 and assets of about $127,000." The story is told as a simple business matter, with the biggest creditor being Cargill.

Construction Halted at NPP Biodiesel Plant in Evansville "Higher commodity prices for their crops is one of the reasons why many farmers decide to get involved with the biofuels business. But ironically, that same scenario is starting to back-fire for investors of the North Prairie Productions biodiesel plant being constructed in Evansville. This week, investors were sent a letter from the NPP Board of Directors informing them that construction of the $42 million facility has been 'temporarily suspended' because of the cost of soybean byproducts." (same plant, different publication) Construction Halted On Large Biofuel Plant

Biodiesel Goes Bankrupt discusses Earth Biofuels (who produces the biodiesel for the BioWillie brand) going into bankruptcy. Bankruptcy filed against biofuel maker

'In it for the long haul' is the story of a Biodiesel production and (or) distribution company in "Barron County" which nearly went out of business, but was instead sold. The new owner is in it for the long haul and plans to run it on a more sound basis.

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