US Spectrum Business Ventures buys ethanol plant

(ADPnews) - Dec 10, 2010 - US private investor Spectrum Business Ventures on Monday announced it acquired E3BioFuels - Mead LLC, a bankrupt owner of a patented closed-loop ethanol plant in the US state of Nebraska.

Under the agreement, the investor restructured the facility's finances and it is ready to restart operations.

The plant is the first closed-loop system for commercial-scale distillation of ethanol using methane gas from cow manure instead of fossil fuels, Spectrum said.

The facility includes an ethanol refinery with a capacity of 25 million gallons (95 million litres), a beef cattle feedlot and anaerobic digesters. The patented system allows the leftover grain from the ethanol production to be fed to the cattle, cutting transport costs.

The company expects to reopen the plant in the coming year.

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