Western Iowa Energy acquires 15 MMgy California biodiesel plant

By Ocean Park Advisors | November 15, 2017

Agron Bioenergy LLC closed the sale of its biodiesel plant located in Watsonville, California, to Western Iowa Energy LLC. Ocean Park acted as exclusive advisor to the seller.

“Western Iowa Energy is happy to be joining with Agron Bioenergy to provide high-quality biodiesel for California consumers,” said Bill Horan, Western Iowa Energy’s chairman.

Western Iowa Energy President and General Manager Brad Wilson added, “We are excited to begin biodiesel production in California. We have been very successful in Iowa and plan to increase the value of our members’ investment with this acquisition.”

Financial terms of the transaction were not disclosed. The assets include a biodiesel refinery designed to produce 15 MMgy and patents encompassing Agron’s centrifuge system and distillation steps to eliminate water washing in the production of biodiesel.

“This sale marks the 24th successful biofuels transaction for Ocean Park, which further solidifies our position as a leading advisor in the renewable fuels and chemicals industries,” said Mark Fisler, an Ocean Park managing director.

“Western Iowa Energy has been successful as an independent biodiesel producer for over a decade,” said John Campbell, another Ocean Park managing director. “Their footprint expansion into the California market shows confidence not only in their long-term business model but the future of a low carbon economy.”    

Agron Bioenergy was founded in 2012. The plant uses continual process patented technology to dispense with water washing and produces clean distilled B100 biodiesel that meets or exceeds ASTM D-6751 specifications.

Western Iowa Energy is a BQ-9000-accredited biodiesel producer whose Wall Lake, Iowa, plant can produce 45 MMgy. 

 

 
 
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