Aug. 5--A Janesville, Minn., ethanol plant is finally going to open with the backing of a group of nine investors, including the Al-Corn plant in Claremont.

The new owner will be Shakopee-based Guardian Energy, a group of ethanol companies formed to own and operate the plant, according to a press release from Agstar Financial Services.

The sale is expected to close by Sept. 15, and the 100-million-gallon plant will start producing ethanol 30 to 60 days after that.

The plant was acquired by the AgStar lending group through VeraSun Energy's bankruptcy in March of 2009.

The six Minnesota farmer-owned ethanol companies that will own the Janesville plant are Al-Corn in Claremont, Corn Plus in Winnebago, Heartland Corn in Winthrop, Minnesota Energy in Buffalo Lake, Chippewa Valley in Benson and Central Minnesota Ethanol in Little Falls. There are also three out-of-state owners from Nebraska, Iowa and Missouri.

The Janesville plant was under construction and scheduled to open before the end of 2008. But VeraSun acquired it from U.S. BioEnergy and later delayed startup indefinitely, laying off most of the 53 employees.

"We are excited to have a regional group of producers who own successful ethanol plants purchase this facility," said Paul DeBriyn, president and CEO of AgStar Financial Services. "We know they are committed to maintaining the value of the ethanol industry for local producers."

Randy Hahn, representative of Guardian Energy and CEO of Renewable Products Marketing Group, said, "Our group of farmer-owned ethanol producers are very excited to see this purchase come together. We strongly believe that the value generated by converting our locally grown corn into renewable energy ought to stay here at home. We are committed to keeping this facility in the hands of local producers and farmers."

Renewable Products Marketing Group will provide marketing services for the facility.

This is the fourth VeraSun Energy plant sold by Agstar, and the Dyersville, Iowa, plant is expected to be sold soon.

The Associated Press contributed to this article.

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