NEWTON, ill., July 20, 2021 / PRNewswire-PRWeb / – After years of financial troubles, lawsuits and a foreclosure, BN National Trail Biodiesel LLC biodiesel plant will soon have a new owner.
BN National Trail Biodiesel LLC, purchased and planned to complete the unfinished 50 million gallon per year scalable biodiesel plant capable of multiple feedstocks. During construction, the company fell behind in payments to vendors, contractors and its lender, Iuka State Bank. BN National Trail ultimately lost real estate and equipment through foreclosure. Iuka State Bank now owns the land and all assets, which will be sold through a sealed auction next month.
The plant, although not fully completed, has produced biodiesel and is now inactive. The 13.52-acre property is located in a corporate zone, opportunity zone and TIF district on one of the busiest trucking corridors in the country. The site features a scalable modular design with a partially completed railway siding and largely completed infrastructure with significant financial incentives. The sealed auction allows buyers to purchase assets in batches or in full. Sealed auction bids are due to the auction company by 22nd of July at 4:00 p.m. HC. Maas Companies Inc leads the auction and specializes in the sale of commercial and industrial assets with an emphasis on renewable energy assets.
the City of Newton and Jasper County Economic Development are ready to cooperate fully and assist a new buyer to complete the plant. Additional incentives include: TIF District Incentives, Opportunity Zone, Enterprise Zone, Commercial / Industrial Electricity Tariff Incentive, City of Newton Revolving Loan Fund, as well as Planning Commission and South Central Illinois Regional Development (SCIRPDC). The site can also extend in several directions. Most of the infrastructure is installed: utilities include city water and sewerage, heavy electricity, and natural gas available from Ameren. All water pipes, fire loop water pipes, sanitary sewer pipes, storm pipes and retention basin are complete, as well as an oil-water separator for the water used with digital discharge counter.
Tyler maas, with Maas Companies, says: “This is a great opportunity for the new buyer, as the factory site has spent millions of dollars to date and is mostly complete with lots of financial incentives for the next one to be owner completes factory production. “
Bidders interested in the property should contact the auction company to gain access to all due diligence documents prior to the auction.
Potential buyers are encouraged to inspect the property during the hours listed below or at any time via a virtual tour:
Tuesday July 20, 9h00 – 3:00 p.m.
Other times by appointment.
Details of the sale are available on the auction website, http://www.biodieselplantauction.com or by contacting the auction company directly at 507-285-1444
Allison Guyton, Maas Companies of Ohio Inc., +1 (507) 285-1444, [email protected]
SOURCE Maas Companies of Ohio Inc.