Mid-Missouri Energy Project Reaches 700 Producers
July 1, 2003
Mid-Missouri Energy, Inc. (MME) is reportedly very close to building an ethanol plant - with 700 producer-owners on board - in Malta Bend, Mo., and has decided to extend its equity drive offering until the end of July.
"We are very gratified to have reached over $19.5 million in equity for our project," MME President Ryland Utlaut said. "Four months ago we were a group of 15 farmers and now we represent nearly 700 producers who have invested."
"This month's deadline is for real," Utlaut said. "This the last extension. We cannot extend this offering beyond that date."
MME will continue discussions with lenders in regard to financing the debt portion of the project and assess options available for MME, according to Utlaut. Encouraged by responses from local banks and national lenders, Utlaut said the banks have been very positive about the project.
Several activities are progressing simultaneously for MME, according to Project Coordinator Patty Kinder. "We have executed a land purchase agreement and set the date for closing on the land in Malta Bend," Kinder reports.
Soil borings, an archeological survey, Phase I environmental assessment and application for permits with the Missouri DNR have been completed as well, according to Kinder. EP
"We are very gratified to have reached over $19.5 million in equity for our project," MME President Ryland Utlaut said. "Four months ago we were a group of 15 farmers and now we represent nearly 700 producers who have invested."
"This month's deadline is for real," Utlaut said. "This the last extension. We cannot extend this offering beyond that date."
MME will continue discussions with lenders in regard to financing the debt portion of the project and assess options available for MME, according to Utlaut. Encouraged by responses from local banks and national lenders, Utlaut said the banks have been very positive about the project.
Several activities are progressing simultaneously for MME, according to Project Coordinator Patty Kinder. "We have executed a land purchase agreement and set the date for closing on the land in Malta Bend," Kinder reports.
Soil borings, an archeological survey, Phase I environmental assessment and application for permits with the Missouri DNR have been completed as well, according to Kinder. EP
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