Lyon County group will build biodiesel plant
Posted: Friday, January 05, 2007
ROCK RAPIDS, Iowa -- Victory Renewable Fuels LLC has announced it plans to build a biodiesel manufacturing facility near Lester in Lyon County, Iowa.
The project has been spearheaded by a group of local producers and businessmen interested in promoting value-added agriculture in the area.
The Renewable Energy Group of Ralston, Iowa, will construct the state-of-the-art plant that is expected to produce 30 million gallons of biodiesel and use vegetable oil and animal fats as a source of feedstock.
REG currently has plants operating at Albert Lea, Minn. and Wall Lake, Iowa. It is anticipated that the Victory Renewable Fuels plant will employ approximately 28 full-time employees.
Total cost of the project is anticipated to be $58 million. Construction of the plant will take approximately 12 months. It is hoped construction can be started in April of this year.
Start of construction on the proposed plant is contingent on a number of factors including final site selection; acquisition of necessary short- and long-term funding and execution of the necessary build design contracts.
Victory's SEC registration was declared effective Dec. 22; the firm anticipates commencing the equity drive Jan. 10.
Investor informational meetings are scheduled at 1 and 7 p.m. Jan. 10 at Foster Center at Rock Rapids; at 1 p.m. Jan. 15 at Corporate Center at Sioux Center, Iowa; at 7 p.m. Jan. 15 at the Norwest Bank at Orange City, Iowa; at 7 p.m. Jan. 18 at Best Western Kelly Inn in Yankton, S.D.; at 1 and 7 p.m. Jan. 22 at the Holiday Inn in Sioux City; and at 1 p.m. Jan. 23 at Village West at Spirit Lake, Iowa.
Victory Renewable Fuels LLC has registered this offering in Iowa and South Dakota and plans to rely on an exemption from registration in Minnesota.
The project has been spearheaded by a group of local producers and businessmen interested in promoting value-added agriculture in the area.
The Renewable Energy Group of Ralston, Iowa, will construct the state-of-the-art plant that is expected to produce 30 million gallons of biodiesel and use vegetable oil and animal fats as a source of feedstock.
REG currently has plants operating at Albert Lea, Minn. and Wall Lake, Iowa. It is anticipated that the Victory Renewable Fuels plant will employ approximately 28 full-time employees.
Total cost of the project is anticipated to be $58 million. Construction of the plant will take approximately 12 months. It is hoped construction can be started in April of this year.
Start of construction on the proposed plant is contingent on a number of factors including final site selection; acquisition of necessary short- and long-term funding and execution of the necessary build design contracts.
Victory's SEC registration was declared effective Dec. 22; the firm anticipates commencing the equity drive Jan. 10.
Investor informational meetings are scheduled at 1 and 7 p.m. Jan. 10 at Foster Center at Rock Rapids; at 1 p.m. Jan. 15 at Corporate Center at Sioux Center, Iowa; at 7 p.m. Jan. 15 at the Norwest Bank at Orange City, Iowa; at 7 p.m. Jan. 18 at Best Western Kelly Inn in Yankton, S.D.; at 1 and 7 p.m. Jan. 22 at the Holiday Inn in Sioux City; and at 1 p.m. Jan. 23 at Village West at Spirit Lake, Iowa.
Victory Renewable Fuels LLC has registered this offering in Iowa and South Dakota and plans to rely on an exemption from registration in Minnesota.
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