Government officials who approved financing for a south Georgia ethanol fuel plant that cost taxpayers at least $75 million did so despite repeated warnings and strong opposition by some of the federal overseers who reviewed the projected.
Lanza Tech bought Range Fuels site for $5 million dollars. The failed ethanol facility shut down after making one batch of fuel. Lanza Tech will use a different process to convert wood waste to ethanol.
A southeast Georgia ethanol factory that cost taxpayers $70 million has been sold at a fraction of the cost in a foreclosure sale, leaving millions of dollars in government loans unpaid. The Courier Herald of Dublin reports the Range Fuels facility in Soperton was sold for $5.1 million.
AgSouth Farm Credit is foreclosing on ethanol plant. Range Fuels received more than 200 million dollars in federal, state, and private funding. Soperton officials are hoping someone will buy the facility.
In 2007 it was supposed to be the first plant in the country to make so-called “cellulosic ethanol.” Since then they’ve received 320-million dollars in state, federal and private money. But now they need more.
A bio-fuels plant in southeast Georgia is marking a first for the nation. Range Fuels’ Soperton facility has successfully taken non-food biomass and turned it into fuel. The plant uses woody biomass from nearby timber operations to create cellulosic ethanol and methanol.