It's official: Janesville ethanol plant sold

The Janesville Ethanol Plant has a new owner as of Wednesday and the plan is to have the operation up and running soon.

The plant was purchased by Guardian Energy, which is a collective ethanol plants in Minnesota, Iowa and Nebraska.

“Drawing on the experience of its member plants, Guardian Energy is rapidly working to bring the facility on line this fall,” interim CEO and Board President Randall Doyal said in a press release announcing the purchase of the plant Friday. “We are actively recruiting and interviewing candidates from across the region to fill more than 45 new jobs.”

Last year the ethanol plant was put on hold after the company that was building it, VeraSun Energy, filed for bankruptcy.

The plant was then purchased by AgStar Lending Group in March. AgStar originally financed seven VeraSun Energy plants and bankruptcy court approved the company’s bid for six of them.

Guardian Energy LLC is the cooperative effort of six Midwestern farmer owned ethanol plants. Guardian Energy negotiated with the banks holding the Janesville facility and their negotiations led to the successful close and transfer of ownership to the company on September 23.

The company is a joint venture between ethanol plants in Little Falls, Benson, Claremont and Winthrop, Minnesota as we all Mason City, Iowa and Miden, Nebraska.

SOURCE: wasecacountynews