In Minnesota, UK-based Green Biologics Limited is winding down operations and closing the Little Falls, Minnesota plant that produces renewable butanol and acetone. Just last year, the company was working with Florida-based Kreussler on a corn-based dry cleaning solvent, as reported in NUU in June 2018, and was working on selling ingredients for a biobased nail polish remover and barbecue lighter fluid.
The statement on their website home page states:
“After a detailed review, the Board of Green Biologics Limited (GBL) has concluded that it is not possible to secure funding to enable it to continue with its plan to build up sales and production levels of renewable butanol and acetone at the Group’s Little Falls, Minnesota plant to the point of cash break-even. Accordingly, given this withdrawal of financial support, the Board and Managements of its subsidiary companies, Green Biologics, Inc., and Central Minnesota Renewables LLC have commenced an orderly closure of operations and wind-down of those corporations for and subject to any actions by their creditors. In the short term the Board of GBL will be considering strategic options for the future of GBL.”
Category: Producer News