
The Minnesota Star Tribune's Emma Nelson reported that Omaha-based Green Plains has temporarily shut down its Fairmont, Minnesota ethanol plant, laying off 55 workers due to market pressures. Key factors include:
- Oversupplied ethanol market
- Weaker energy complex
- High local corn prices following 2024 flooding
The company intends to reopen when market conditions improve and plans to integrate with its carbon capture project in late 2025. Despite challenges, Green Plains reported increased Q3 2024 earnings and sees potential in growing international ethanol demand.
The closure highlights ongoing challenges in the ethanol industry, balancing agricultural markets, energy prices, and environmental considerations. Local officials will monitor the plant's status given its importance to Minnesota's economy.