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Corn Plus


Trading Status: Inactive
Web Site: www.Cornplusethanol.com
SEC Filing(s): No
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By Corn Plus | August 29, 2019
Corn Plus, a Minnesota cooperative, announced plans to suspend operations at its ethanol plant in Winnebago, Minnesota upon completion of its current production run. The board and management of Corn Plus are and will be working with Corn Plus’s lenders, creditors and other stakeholders to determine next steps, which could include restarting operations, or a future sale or other disposition of the plant.  

Corn Plus, a Minnesota cooperative, announced plans to suspend operations at its ethanol plant in Winnebago, Minnesota upon completion of its current production run. The board and management of Corn Plus are and will be working with Corn Plus’s lenders, creditors and other stakeholders to determine next steps, which could include restarting operations, or a future sale or other disposition of the plant.

Over the last few years, Corn Plus implemented significant projects that dramatically improved plant performance and increased capacity to nearly 50 million gallons per year.  Despite these upgrades, the decline in market economics for the industry has created very difficult conditions to ongoing operations of Corn Plus, resulting in the plant being unable to operate profitably in the current environment.

Corn Plus is one of the veteran ethanol plants in the State of Minnesota, having been constructed in 1993. Producing 49 million gallons annually, Corn Plus is locally owned, supported, financed and marketed, and is actively researching various areas of corn oil extraction and Biotechnology in the extraction of medical protiens, corn germ extraction, and value-added corn gluten products. Corn Plus's innovation in value-added ethanol production is of national significance; its new fluidized bed is the only one of its kind in the world. ***



 
 
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