Green Biologics to Acquire Assets of Central MN Ethanol Co-op
ABINGDON, England/GAHANNA, OH – Green Biologics Inc. (GBI), a technology developer and emerging bio-based chemicals producer based in Gahanna, OH, and Central MN Ethanol Co-op (CMEC), an ethanol producer in Little Falls, MN, announced that Green Biologics Inc. has entered into an exclusive letter of intent to acquire substantially all of CMEC’s assets. The transaction is expected to close in 2014.
Established in 1995, CMEC is an ethanol production company. The company purchases 7.5 million bushels of corn annually and produces 21 million gallons of ethanol per year. The plant also generates revenue from ethanol co-products, including dried distillers grains, wet distillers grains, corn oil and syrup.
A wholly owned U.S. subsidiary of UK-based Green Biologics Ltd., Green Biologics Inc. specializes in the manufacture of renewable C4 chemicals and advanced biofuels. The company’s core focus is n-butanol.