Asset Sales

Purified Renewable Energy (PRE) is selling an 18 million gallon per year Katzen corn-based, dry mill fuel-grade ethanol facility in Buffalo Lake, MN. PRE filed for Chapter 11 bankruptcy protection on March 25, 2013. Complete case information can be found at the United States Bankruptcy Court for the District of Minnesota (PACER login required).

Bankruptcy Dates and Facts

  • Qualified bids due July 31, 2013 – Bid Procedures
  • Auction August 8, 2013 - Minimum bid is the greater of $2 million dollars cash or the West Ventures Credit Bid amount, as further described in the Bid Procedures
  • Successful bidder to obtain assets Free and Clear of Liens
  • Successful bidder to Assume/Reject executory contracts
  • As is/Where is Basis, no warranties express or implied

Key Asset Facts

  • 18 MGY nameplate (undenatured/anhydrous) Katzen corn-based fuel ethanol production plant
  • Construction completed in 1997 as a 8 MGY facility. Four expansions through 2007 to 18 MGY
  • Operational from April 1997-March 2010 and April 2012-March 2013. Currently in "cold-idle"
  • 16-acre plant site plus 5-acre agricultural parcel in Buffalo Lake, MN
  • Ethanol shipments via truck
  • Dry distillers grain shipments via truck
  • 225,000 gallons of denatured ethanol storage

Available Materials - Public

Available Materials - Post executed Non-Disclosure Agreement

Sales Agent Contact Information
Jeff Manternach
IR1 Group
503-636-1130
jeffm [at] ir1group.com

Joe Winkler
IR1 Group LLC
970-381-4951
joew [at] ir1group.com