(Reuters) - IBEC recently commenced the operation of a 40 million gallon per year ethanol production facility which it has built over the last 18 months. Babcock & Brown's interest in IBEC stems from its excellent market location, state-of-the-art production technology and valuable contractual relationships with leading industry participants.
IBEC represents Babcock & Brown's fourth investment in the US ethanol industry. In January 2006, Babcock & Brown Environmental Investments completed the acquisition of Diversified Energy Company , whose primary asset is a 25 mgpy facility in Morris, Minnesota. Babcock & Brown also has two plants under construction: a 100 mgpy facility in Hennepin, Illinois and a 50 mgpy facility in Necedah, Wisconsin.
Read more at Reuters.com Mergers News
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