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Pennsylvania, Ohio and West Virginia engaged in a tax competition for the plant. In 2012, Pennsylvania structured a deal requiring Shell to invest at least $1 billion in Pennsylvania and create at least 2,500 construction jobs in exchange for a 25-year tax incentive of $66 million per year and tied to production, reducing Shell's tax by up to 20 per cent.
Founded in 2001, the company at one time had a fleet of 16 production facilities in eight states, of which one was still under construction. VeraSun Energy was scheduled to have an annual production capacity of approximately 1.64 billion US gallons (6,200,000 m 3) of ethanol and more than 5 million tons of distillers grains by the
The Toledo metro area is recognized nationally as a "seat of solar energy", [63] nicknamed "Solar Valley". The area is home to large solar production facilities, including Willard and Kelsey Solar Group, which will begin production in 2011 on a 280,000-square-foot (26,000 m 2), $250 million facility. [62]
The ethanol industry says capturing carbon emissions from ethanol plants and sequestering it underground is needed to help the industry keep up with the trend toward greener energy.
Gevo is acquiring the Red Trail Energy ethanol production assets and the CCS assets, both based in Richardton, North Dakota, for $210 million in cash, subject to customary closing adjustments. The transaction is expected to close by the first quarter of 2025, subject to receipt of regulatory approvals and the satisfaction of other customary ...
ENGLEWOOD, Colo., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO), a leading developer of net-zero hydrocarbon fuels and chemicals, is pleased to announce that it has entered into a definitive agreement to acquire the ethanol production plant and carbon capture and sequestration (“CCS”) assets of Red Trail Energy, LLC (“Red Trail Energy”) for $210 million.
Ken Cassman, a professor of agronomy at the University of Nebraska–Lincoln, said in 2008 that ethanol has a substantial net positive direct energy balance: 1.5 to 1.6 more units of energy are derived from ethanol than are used to produce it. Comparing 2008 to 2003, Alan Tiemann of Seward, a Nebraska Corn Board member, said that ethanol plants ...
Jul. 10—ONIDA, S.D. — The ethanol plant explosion that rocked Onida on Sunday afternoon is still under investigation by the South Dakota State Fire Marshal. Witnesses in the area said they ...