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CHICAGO -- The first ethanol plant by Diversified Ethanol, division of James Monroe Capital Corp., will be used as a demonstration model for its plants to manufacture small, improvable plants for the Midwest.
The plants share a common floor plan and parts for reduced future costs. One plant is capable of producing 100,000 gallons of ethanol per year, the company estimates. Its target markets for the 24-hour plants include convenience store chains, farming operations, and other investors.
A group of investors have asked the company to manufacture the plants for the national market, starting with themselves. Diversified Ethanol has now started a waiting list for those who want to obtain the low-cost ethanol plants. "We realized that this market is booming," said Diversified’s CEO Taylor Moffitt in a written statement.
Qualified customers are guaranteed a plant, but must pre-pay a non-refundable $10,000 reservation fee, the company stated. The "no-frills" plant costs approximately $400,000, however, the larger the plant, the most cost-effective it will be, the company stated.
Currently, the company is assembling vendors, purchasing tanks and has started talks with subcontractors and engineers. The company "has not yet decided which ethanol engineering team will get to participate, but whichever team we decide to work with, they will be very busy will be providing an expandable, entry-level product that can grow with the customer and is very cost-effective," said Moffitt.
Test runs producing ethanol at the demo plant will begin in late August, and 24-hour production will begin by the end of September.
Interested parties can email Diversified at [email protected] with the subject “Ethanol Plants.”