Ethanol plant in the US. Featured Image: Jim Parkin/Shutterstock.com
Investment firm Strategic Value Partners, also known as SVPGlobal, has completed the acquisition of biofuel producer White Energy’s ethanol business in Russell, Kansas.
The particular plant produces more than 50 million gallons (189.3 million litres) of ethanol per year. Following the purchase, SVPGlobal will operate this business under the name Russell Ethanol.
In addition to the ethanol operations, SVPGlobal has also acquired White Energy’s food ingredient business, including a wheat gluten manufacturing facility. The value of the transaction was not disclosed.
Together, the two plants employ some 80 people.
White Energy will continue to operate ethanol plants in Hereford and Plainview, Texas. Their combined capacity is enough to produce 260 million gallons of biofuel annually.