ICM has announced that it was the successful bidder on the Colwich, Kansas (US), ethanol facility for sale by Abengoa Bioenergy conducted under the provisions of the U.S. Bankruptcy Code.
The company will purchase the Colwich ethanol facility and property for US$3.1 million.
In December 2015, Abengoa decided to suspend production at its plant as part of the recent financial troubles the company is suffering. The production capacity was 25 Mgal/year (95 ML/year), achieved through continuous batch cooking and fermenting processes. The feedstock for the Colwich plant was corn and sorghum.
The company's acquisition agreements are subject to review and approval by the U.S. Bankruptcy Court for the Eastern District of Missouri. The acquisition is expected to be complete no later than Sept. 30, 2016.
Dave VanderGriend, founder and CEO of ICM, Inc. said:
“ICM values this location in Colwich, Kan., and we are evaluating the best way to exercise that opportunity. We continue to focus our efforts on developing solutions that deliver value-added product streams to the renewable energy industry.”