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Posted on  

November 1, 2002

Iowa Ethanol Co-op Partnering With Monsanto

by Rod Swoboda

Pine Lake Corn Processors LLC of Steamboat Rock, Iowa, announced on Oct. 23, 2002, that the company will be partnering with Monsanto Enviro-Chem Systems, Inc. of St. Louis, Mo., a wholly owned subsidiary of Monsanto Company, and Delta-T Corporation of Williamsburg, Va.

The new partnership will build a 20 million-gallon per year fuel ethanol facility near Steamboat Rock, Iowa. The plant, located in Hardin County, will be constructed so that it can be doubled in size within a few years.

The Pine Lake Corn Processors, LLC project was originally intended to be a 15 million-gallon per year plant. "But, with the continued outlook for increased ethanol demand, exceptional community support and local feedstock supply - plus the prospect of partners that are focusing resources in the biofuels and bioeconomy - the company has determined to take steps that will take advantage of these conditions by building larger," says Matt Crouse. He is the spokesman for the project.

Original plans hit snag on financing, engineering

A year ago, Pine Lake Corn Processors had sold stock to around 400 local people, many of them farmers, in the north central Iowa community to raise $10 million to build the plant. The co-op held a groundbreaking ceremony in fall of 2001. But the farmer-owned co-op ran into some problems and it still isn’t built.

However, with the recent announcement that the venture has been reorganized with new corporate partners and new financing, plans are for construction to finally get underway.

Pine Lake Corn Processors will hold meetings to discuss changes in the ethanol production project. Meetings will be held 7 p.m. Nov. 6 at the Hardin County Fairgrounds Community Building in Eldora; 1:30 p.m. Nov. 7 at Wellsburg Memorial Building in Wellsburg; and 7 p.m. Nov. 7 at Coulter Community Center in Coulter, Iowa.

For additional information, contact the Pine Lake Corn Processors’ office at (641) 939-7721 or email info@pinelakecorn.com. You can also find information on their Web site: pinelakecorn.com.


 

 

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