Richardton, N.D. (Nov. 29, 2004) – Red Trail Energy, LLC, has raised $21 million for the construction of an ethanol plant near Richardton, just $3 million short of the amount it needs to escrow the project.
Since launching a concerted and targeted communication effort seven weeks ago, Red Trail Energy has raised more than $3 million. Project Coordinator Frank Kirschenheiter said the group is so confident in exceeding the $25 million goal that it began site preparation two weeks ago.
“This has been a solid, viable project from day one. It simply took some time to get the word out,” he said. “Now that it is, we’re scrambling to keep up with all the inquiries from people who want to get in on this tremendous investment opportunity.”
Kirschenheiter said Red Trail will continue to respond to new prospective investors only until it closes on the outstanding inquiries in the pipeline.
The Richardton plant will produce 50 million gallons of ethanol annually. It will consume 18-20 million bushels of corn and 133,000 tons of lignite coal each year. The plant will directly employ 36 people.
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