Ringneck Energy officials are hoping to complete fund raising in the next few weeks for their $150 million ethanol plant to be built near Onida, South Dakota. CEO Walt Wendlund says this is a critical time for bringing on needed investors so they can begin construction this summer.
He says they have one or two larger investors willing to contribute the final equity to get construction rolling.
Wendlund says once the facility is up and operating in 2018, it will help improve corn prices for farmers in the region.
Wendlund says once fully operational, the plant will produce 80 million gallons of ethanol annually. However, they’re permitted for 100 million gallons, which would allow for future growth.
(WNAX)