Al-Corn Clean Fuel’s shareholders reject $146 million expansion plan

In Minnesota, Al-Corn Clean Fuel’s shareholders rejected a push to more than double the plant’s capacity to 120 million gallons per year from the current 50 million gallons annually, a move that would have required a $146 million investment. Millions of new shares would have been required to fund the investment, but the move was rejected by a slim margin of shareholders. The cooperative’s management will now go back and rethink where the vote went wrong and try to re-formulate the offer so the expansion project can move forward.

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