|By TIM ALEXANDER
STREATOR, Ill. — Opportunities still remain for Illinois residents interested in attending meetings regarding investing in ethanol plants sponsored by Green Lion Bio-Fuels, an Illinois biofuels developer. Green Lion has ethanol plants underway in Streator (Emerald Ethanol LLC), Beardstown (Prairie Breeze Ethanol LLC) and Charleston (Diamond Ethanol LLC).
Interested farmers, landlords and off-farm investors will have a chance to buy shares in the Emerald Ethanol and Prairie Breeze Ethanol plants; stock offerings for Diamond Ethanol have not been finalized. Two classes of shares are available.
Richard Kemple, Green Lion CEO, said preferred stock purchasers will have no obligations to deliver corn.
“That means teachers, truck drivers and nurses, our neighbors who make the American way of life possible, will have an opportunity to participate in ethanol,” said Kemple. “They don’t have to grow corn to share in the appreciation the industry is seeing.”
Common stock purchasers will have the option to deliver corn to the ethanol plants for a premium price and will be able to share in the plant’s dividends, according to Kemple. “We’re hoping growers will choose to bring at least five to six million bushels directly to the plant. That’s a quarter of what each facility needs annually.”
Kemple said that considering the success of other, recently established ethanol production facilities, the opportunity to invest is a “win-win” situation for farmers and the community.
The plants are designed to produce 60 million gallons of ethanol annually, and are projected to begin production in late-2007. The plants will consume an estimated 22 million bushels of Illinois corn each year. Forty-five new, permanent jobs are expected to be created at each location. The construction budget for each plant is approx. $100 million.
Remaining meetings are scheduled for Dec. 4 in Streator, Dec. 5 in Jacksonville, Dec. 6 in Beardstown and Dec. 12 in Ottawa. For more information on the ethanol plant planned for Streator, visit www.emeraldethanol.com or call 309-266-2605.
For more information on the Beardstown plant, visit www.prairiebreezeethanol.com or call 309-266-2766.
This farm news was published in the Nov. 29, 2006 issue of Farm World, serving Indiana, Ohio, Illinois, Kentucky, Michigan and Tennessee.