Faegre Drinker Advises Gevo in Proposed $210 Million Acquisition of Red Trail Energy Ethanol Production, Carbon Capture Assets
A Faegre Drinker team led by corporate partners Morgan Burns and Mike Abbott, and corporate associate Richard Bennett, is advising Gevo, Inc., a leading renewable chemicals and advanced biofuels company, in its proposed acquisition of Red Trail’s low-carbon ethanol production and carbon sequestration facilities in North Dakota for $210 million.
The deal includes a 500 acre, 65-million gallon per year ethanol facility and pore space lease agreements for 5,800 acres with production capabilities of one million metric tons of carbon capture and sequestration annually. Additionally, the facility generates more than 200,000 tons annually of distiller grains and vegetable oil co-products. The transaction is expected to close by the first quarter of 2025, subject to receipt of regulatory approvals and financing, and the satisfaction of other customary closing conditions.
The deal led by Burns, Abbott and Bennett was also supported by Nicholett Dabb, Andrew Anderson, Christopher Berendt, Brian Pickard, Colin Harris, Julian Harrell, Brian Fennerty, Jason Deppen, Robert Leonard, Hudson Peters, Paul Moe, Lily Ansel, Eli Isaacs and Jason Kimpel.
To read the full press release from Gevo, click here.