Guardian Energy Invests in Ohio Ethanol Plant

RFAGuardian Energy Holdings of Minnesota now has a majority stake in an ethanol production facility located in Lima, Ohio. The 54-million gallon per year plant will operate under the name Guardian Lima, LLC.

The facility originally began operations in 2008 as Greater Ohio Ethanol, but filed for bankruptcy protection later that year due to numerous operational challenges and adverse financial market conditions. The plant has been idle since November, 2008 and was acquired by PEA in March, 2009.

In connection with the recent investment, ICM, Inc. of Colwich, KS has been retained to lead a retrofit and upgrade program for the plant. Construction has already begun at the site and the facility is expected to be operational by the second quarter of 2011. When operational, the plant will consume approximately 19 million bushels per year of corn to produce 54 million gallons per year of fuel grade ethanol and 165,000 tons of dried distillers grain. The company will hire a staff of 31 full time employees and the retrofit project will create up to 60 construction jobs. The facility will be managed by Guardian Energy Holdings, LLC.

Guardian Lima also announced that it has selected Renewable Products Marketing Group (RPMG) as its ethanol and distillers grain marketing partner.

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