Biodiesel and Ethanol Investing

Ethanol Producer Magazine reports that Valero finalized the purchase of Renew Energy, a 110 MMgy plant in Jefferson, Wisconsin, amidst opposition from All Fuels & Energy. After initial purchase of the Renew facility in a December bankruptcy auction, All Fuels scrutinized the decision of William Blair & Co., and Bankers’ Bank, the lead secured creditor at the auction but was unsuccessful in a recent attempt in federal bankruptcy court. According to All Fuels president Dean Sukowatey, their bid exceeded the successful Valero bid by $5 million, but Bankers Bank, Valero and William Blair (the sale coordinator) unilaterally discounted All Fuels’ offer to terminate the auction and accept Valero’s bid.