Shortly after the two-year anniversary of the world?s largest cellulosic ethanol plant opening in Nevada, a DowDuPont spokesperson says it?s for sale.
In a statement from a DowDuPont spokesperson, the company says ?As part of DowDuPont?s intent to create a leading specialty products company, we are making a strategic shift in how we participate in the cellulosic biofuels market.?
The statement continues to say ?While we still believe in the future of cellulosic biofuels we have concluded it is in our long-term interest to find a strategic buyer for our technology including the Nevada, IA biorefinery.?
Iowa Renewable Fuels Association Executive Director Monte Shaw reacted to today?s news. ?We?ve been very excited to have DuPont as part of the cellulosic ethanol revolution but apparently that is not going to be part of their future. We hope someone else can come in and pick up an excellent facility,? Shaw says.
He says it is emblematic of broader forces at work.
?It?s been a challenging environment to work in and it?s really been challenging to get investors to see there is light at the end of the tunnel but we are starting to see millions of gallons of commercial ethanol hit the market, so I am bullish on the future,? Shaw says.
The Nevada cellulosic plant has the capacity to produce 30 million gallons per year. It cost $225 million to build.
