Virginia ethanol plant put on marketHOPEWELL, Va. — Osage Bio Energy says it's throwing in the towel on plans to brew ethanol from barley at a plant in Hopewell.
HOPEWELL, Va. — Osage Bio Energy says it's throwing in the towel on plans to brew ethanol from barley at a plant in Hopewell.
The Richmond Times-Dispatch reports that Osage and the plant are for sale. The company says it's laying off all but a few of the plant's 55 employees.
Osage spokeswoman Heather Scott says the private equity firm that owns most of its stock has decided to sell.
The company was started in 2007 and set about building the plant, which was to produce up to 65 million gallons of ethanol from as many as 30 million bushels of barley every year.
Osage says the plant is ready for production. Construction started in 2008.