Two biodiesel facilities located in the U.S. states of Iowa and Illinois have been listed for sale through a court-ordered auction after facing liquidity issues.
Maas Companies has been appointed to manage the sealed bid auction process for the former Hero BX biodiesel refineries. The sale comes after a federal court placed the assets under receivership due to financial stress.
One of the properties is located in Clinton, Iowa. The facility includes a renewable fuel plant with a production capacity of 10 million gallons per year and is spread across around 13.33 acres. It is situated within the Lincolnway Industrial Rail & Air Park and offers direct rail connectivity through Union Pacific, along with access to major markets in the Midwest, biofuels international reported.
The second property is in South Roxana, Illinois. This site previously housed a 12-million-gallon-per-year biodiesel plant but has since been dismantled. It covers about 5.59 acres and is located near the Phillips 66 Wood River Refinery, making it suitable for fuel distribution and industrial use.
According to Tyler Maas, chief auction official at Maas Companies, the assets present a valuable opportunity for investors. He noted that the facilities come with established infrastructure and are located in leading biofuel-producing regions, making them suitable for restarting biodiesel production or repurposing for other industrial activities.
The auction is expected to draw interest from buyers seeking to enter or expand in the renewable fuels sector while utilising existing facilities.
