Orion Ethanol to convert plant

By | May 09, 2008
Orion Ethanol has acquired a renewable fuels facility from Dimmitt Ethanol LP in Dimmitt, Texas. The campus will be developed in three phases, the first of which will convert the corn fructose wet-milling facility into a 60 MMgy ethanol plant. The second phase will add a 10 MMgy cellulose-to-ethanol process. Orion purchased the plant for $2.5 million in cash, a subordinated promissory note of $2.5 million and 8 million common shares.