Future Capital Buys $220 Million U.S. Bioethanol Plant
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Future Capital Partners Ltd., a U.K. investment company, agreed to buy Appomattox Bio Energy LLC, as it aims to cut costs at a planned bioethanol plant in Britain.
FCP didn’t disclose how much it paid for Appomattox, which it said was worth $220 million. It plans to sell the assets to its investment vehicle Future Fuels Partnership, which is developing a refinery in Grimsby, England, the London-based investor said today. About three-fourths of the plant and machinery may be shipped from Virginia to the U.K. to build the new plant, according to Jonathan Turney, associate director for renewable energy at FCP.