The Mid-Atlantic Biodiesel Plant is on the Auction Block
The Mid Atlantic Biodiesel (MAB) plant was designed to produce biodiesel from multiple feedstocks. Biodiesel became an attractive fuel for the US market due to the rapidly rising cost of petroleum-based diesel, tightening clean air standards, and concern about the nation’s increasing reliance on imported oil.
That was the dream.
High commodity prices forced the plan to close after only six months of operations. It’s now being offered in a “lender ordered collateral sale” on January 22, 2009 by auctioneer Maas Companies of Rochester, MN.
Here are the details…
The 5 million gallon-per-year B100 biodiesel refinery was constructed in 2006-07. The refinery, previously owned by Mid-Atlantic Biodiesel Company, LLC, is currently dormant and under the care of on-site personnel but is in “move-in” condition. Refinery equipment will be auctioned mostly as a unit with the exception of some uninstalled new equipment that will be offered for individual sale. The refinery’s laboratory equipment is subject to lease-to-own equipment leases, which may be assumed.
Inspections on site:
Thursday, January 8 11 AM – 4 PM
Friday, January 9 11 AM – 4 PM
Tuesday, January 20 11 AM – 4 PM
Wednesday, January 21 11 AM – 4 PM
Thursday, January 22 9 AM – 11 AM
Other times by appointment.
Payment Info:
10% Buyer Premium. $100,000 Certified Deposit on day of sale, balance due at closing within 30 days.
Full terms, including an auction brochure and tons of photos are available on the Maas Companies website.
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