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Ringneck Energy-Ethanol Plant Funding

Ringneck Energy-Ethanol Plant Funding
South Dakota company still raising money for ethanol plant
The Associated Press - May 15, 2017

ONIDA, S.D. - A South Dakota company is still working to raise enough money to build a $150 million ethanol plant just south of Onida.

The Capital Journal reports that Ringneck Energy CEO Walt Wendland says the company finally has one or two investors willing to give the last piece of equity needed to start construction.

He says it will amount to half of the expected construction and start-up costs and the company hopes to begin construction this summer.

Wendland says the plant will buy 25 million bushels of corn every year and will employ about 40 people.

Construction on the 80-million-gallon-per-year facility has run into numerous delays due to legal, financial and regulatory hurdles.

Some Onida residents have fought the plant's location because they fear pollution and health risks.



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